All articles tagged with #poet technologies
Stock futures edged higher as investors weighed U.S.-China diplomacy; Cisco jumped on AI restructuring and raised guidance, boosting its shares and sentiment for AI infrastructure plays, while POET Technologies jumped about 24%. Doximity and Enovix slid on weaker guidance and profitability concerns, with Take-Two, Kodiak Gas Services and Bullish among other movers.
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 tumbled about 50% in intraday trading, dropping from around $15 to $7.55 after Marvell Technology canceled its purchase orders, signaling a weaker revenue outlook as POET trades on the Nasdaq Capital Market.
POET Technologies’ stock fell sharply after Marvell’s Celestial AI canceled a purchase order POET had disclosed, triggering volatility linked to confidentiality breaches. The company highlighted other deals and ongoing focus on AI and optical networking, while trading volume surged and analysts maintained a cautious Neutral stance with a $15.50 target.
POET Technologies announced the cancellation of all Celestial AI purchase orders after Marvell provided a cancellation notice citing confidentiality obligations. The company will focus on its AI and optical networking product development and fulfill other orders, including a separate roughly $5 million purchase order from another technology customer.
POET Technologies' shares jumped nearly 28% in premarket trading after rising over 19% the prior session to a 52-week high, helped by chatter about a data-center photonics order pipeline, a Marvell-linked purchase order, and rising AI demand; the stock has surged about 48% over the last five sessions.