Why Poet Technologies Stock Is Plummeting Today
Poet Technologies (NASDAQ: POET) stock is getting hit with a big pullback in Friday's trading. The optics-technology company's share price was down 9.4% as of 10:15 a.m. ET. Today's pullback for the stock comes on the heels of a massive rally in yesterday's trading driven by news of the company inking a deal with Lumilens.
Poet published its first-quarter results before the market opened this morning, reporting a wider-than-expected loss on sales that beat the market's expectations. In conjunction with its Q1 report, the company also announced a new capital raise.
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Source Fool.com
