Why Poet Technologies Stock Just Crashed
Poet Technologies (NASDAQ: POET) stock imploded this morning, falling 44% through 11:15 a.m. on reports of a feud between the tiny semiconductor packaging specialist and semiconductor giant Marvell Technology (NASDAQ: MRVL).
Poet has developed technology to use photonics (light) rather than copper wires to rapidly transfer data among artificial intelligence chips, and at first, it seemed to catch Marvell's attention. Last week, Poet scored a big win when news began filtering out about a big purchase order from Celestial AI, a company Marvell acquired in February.
But Poet spoke too soon.
Source Fool.com
