Why Navitas Semiconductor Stock Is Plummeting Today
Navitas Semiconductor (NASDAQ: NVTS) stock is deep in the red Tuesday. The company's share price was down 9.1% as of 3 p.m. ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) was down 0.3%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had slipped 0.2%. Navitas shares had been down as much as 12% early in trading.
Navitas is falling today due to news that the Trump administration has taken a big step to secure a trade deal with China. The company's share price is also under pressure due to investors betting that a cut in interest rates this week is no longer in the cards.
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Source Fool.com
