Why Navitas Semiconductor Stock Just Crashed 19%
Shares of Navitas Semiconductor Corporation (NASDAQ: NVTS), a smallish company that makes gallium nitride chips used in powering electronic devices, collapsed Wednesday morning after the company reported Q4 2021 sales that missed analyst forecasts by the narrowest of margins -- and also warned of further misses in the year to come. As of 11:05 a.m. ET, Navitas shares are down 18.8%.
Heading into Q4, analysts had forecast Navitas would lose $0.08 per share on sales of $7.4 million. Navitas actually beat expectations on earnings, losing only $0.07 per share for the quarter. It missed expectations on sales, however, which came in at only $7.3 million.
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Source Fool.com
