POET Shares Slump After Marvell Cancels Celestial AI Orders
TL;DR
POET Technologies’ stock fell after Marvell canceled all outstanding Celestial AI orders, with Marvell accusing POET of confidentiality breaches. POET says it’s pivoting to other priorities (including a $5 million order with another firm) and continues developing its POET Optical Interposer, but cautions there’s no guarantee it can reestablish the Marvell relationship. The company also faces upcoming May earnings and traders are watching key levels around support near $12 and resistance near $9 as the narrative unfolds.
- POET Technologies Shares Plunge On Marvell Order Cancellation: What Investors Need To Know Benzinga
- Jim Cramer on POET: “Sounds Interesting, But Not 100% Up Interesting, Sell Some” Yahoo Finance
- Marvell cancels POET Technologies orders after confidentiality breach, stock falls 46% qz.com
- POET Technologies: The Missing Piece In Marvell's AI Empire (NASDAQ:POET) Seeking Alpha
- POET stock: how a major CFO blunder triggered a crash TradingView
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