Navitas Semiconductor Corp (NVTS) experienced an after-hours plunge of 5.29%, following a significant rally during the regular trading session driven by a major partnership announcement.
The stock's sharp decline in the extended session is attributed to profit-taking by investors. This selling pressure emerged after the stock surged over 20% intraday on news that Navitas Semiconductor had been selected as an official partner in NVIDIA's next-generation 800V DC power architecture, aimed at accelerating AI infrastructure deployment.
Analysts note that the rapid appreciation during regular hours, combined with the company's recent history of director share sales and a planned stock offering, created conditions ripe for a technical pullback as traders locked in gains.
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