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Why Navitas Semiconductor Stock Soared Today

TheMotleyFool

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Why Navitas Semiconductor Stock Soared Today: https://g.foolcdn.com/editorial/images/874530/gettyimages-1248262649-copy.jpg

Navitas Semiconductor (NASDAQ: NVTS) stock posted a day of strong gains in Friday's trading, rising 5.3% in the session. Meanwhile, the S 500 closed out the day up 0.5%, and the Nasdaq Composite was up 0.6%.

The stock market enjoyed broadly positive momentum in today's session, and the recent SpaceX initial public offering (IPO) likely played a role in the bullish backdrop. Navitas stock is now up 227.5% across this year's trading.

Image source: Getty Images.

Source Fool.com