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Is Navitas Semiconductor Stock a Buy?

TheMotleyFool

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Is Navitas Semiconductor Stock a Buy?Photo, wide shot, wide-angle lens, Home decor store, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/1f534af1-8f1f-47f4-aa9f-66269ecafb79.png

Navitas Semiconductor's (NASDAQ: NVTS) stock has experienced significant fluctuations over the past year. In April, the chipmaker's stock hit a record low of $1.52 per share. That marked a decline of more than 90% from its record high of $20.16 in November 2021.

Yet Navitas' stock currently trades at around $9. Most of that rally was driven by its new data center deal with Nvidia (NASDAQ: NVDA) this May, but is its stock still worth buying right now?

Image source: Getty Images.

Source Fool.com