What's Going On With Navitas Semiconductor Stock?

Benzinga02-13

Shares of Navitas Semiconductor Corporation (NASDAQ:NVTS) are falling amid a broader technology stock sell-off, despite the company launching a fifth-generation platform that will lead to better data ...

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The Nasdaq Composite also lost 1.7%, with significant declines in major tech stocks like Apple and Amazon, each dropping around 3%. This broader tech sector weakness has contributed to the downward pressure on Navitas’ stock.\n“Our customers are redefining the boundaries of power conversion in AI data centers and energy infrastructure, and Navitas is marching along with them in every step of the way,” said Paul Wheeler, VP & GM of Navitas’ SiC Business Unit.\nThe technological advancements in Navitas’ 5th-generation platform are poised to strengthen its position in AI data centers, energy infrastructure and industrial electrification. 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