Navitas Semiconductor falls as chip selloff and dilution fears hit AI favorite
Navitas Semiconductor dropped more than 14% Wednesday. Investors pulled back from smaller AI-connected chip stocks after a big selloff in semis and new worries about how much future growth is in the price. The stock traded at $18.30 as of 1:03 p.m. EDT, falling $3.10 from Tuesday’s close. Turnover hit 17.6 million shares. The shares opened at $21.02 and touched a low of $18.26 earlier in the session.