Navitas Semiconductor Stock Is Headed for a Make-or-Break Week After a Wild AI Rally
Navitas Semiconductor closed Friday at $21.32, down 4.48% but up 17.14% for the week after raising about $122 million through an at-the-market stock sale. The company sold 6.5 million shares, increasing cash and share count. Investors await Navitas’ May 19 appearance at the J.P. Morgan tech conference. The stock mirrored volatility across the semiconductor sector as the Philadelphia SE Semiconductor Index fell 4% Friday.