Why POET Technologies Stock Keeps Falling
Shares of POET Technologies (NASDAQ: POET) fell on Friday, finishing the day down 7.3%. The drop came as the S 500 and Nasdaq Composite gained 0.3% and 0.4%, respectively.
The stock has lost roughly 40% since peaking above $20 in mid-May, after nearly tripling from its early month levels. It closed Friday near $12.30.
There's no single catalyst for today's drop; rather, it's the weight of several problems continuing to compound. Late last month, Marvell's AI division canceled all purchase orders with the company, sending shares down roughly 47% in a single session.
Source Fool.com
