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Why Navitas Stock Plummeted Today

TheMotleyFool

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Why Navitas Stock Plummeted Today: https://g.foolcdn.com/editorial/images/873286/gettyimages-83077315.jpg

Navitas Semiconductor (NASDAQ: NVTS) stock got hit with a sharp sell-off in Friday's daily trading. The chip company's share price closed out the day down 18.2% in a session that saw the S 500 decline 2.6% and the Nasdaq Composite sink 4.8%.

The broader stock market got hit with a wave of powerful selling action today as investors reacted to fears that the Federal Reserve is on course to hike interest rates. Despite a huge pullback today, Navitas stock is still up 251% across 2026's trading.

Image source: Getty Images.

Source Fool.com