Why Poet Technologies Stock Crashed This Week
After huge gains in last week's trading, Poet Technologies (NASDAQ: POET) stock got hit with a massive pullback this week. The fiber-optics specialist's share price fell 51.6% over the period.
Poet stock has seen incredible volatility over the last couple of weeks in conjunction with developments connected to orders the company was supposed to have with a potentially crucial customer. The company's share price more than doubled on an apparent confirmation that the tech specialist had a contract with Marvell Technology, but its valuation gave up all of the gains after it was revealed that Marvell had backed out of the deal.
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Source Fool.com
