Why Navitas Semiconductor Stock Dropped Today
Navitas Semiconductor (NASDAQ: NVTS), maker of power chips for charging electric devices, tumbled 15.2% through 10:30 a.m. ET Tuesday despite fulfilling analyst predictions in its second-quarter earnings report last night.
Heading into the report, analysts forecast Navitas would lose $0.05 per share -- and it did. They also predicted sales would be about $14.4 million; Navitas reported nearly $14.5 million in sales. All of which sounds fine to me, so why is the stock down so much today?
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Source Fool.com
