Navitas Tanks After Weak Forecast

Benzinga

Navitas Semiconductor just plunged over 16%, dropping to $6.76 after issuing weaker-than-expected Q3 sales guidance — despite beating earnings and revenue for Q2. The stock opened strong, hitting $7.28 before tanking hard. Now it's among the day’s biggest tech losers alongside Inspire Medical and ICO. Is this an overreaction, or the start of a broader small-cap semiconductor pullback?

Transcript

00:00One chip stock just crashed over 16% and no one's talking about it.

00:04Navitas Semiconductor just dropped to $6.76, down more than 16% this morning after spooking

00:11Wall Street with its Q3 forecasts.

00:13Even though they beat Q2 earnings and revenue, investors are dumping Navitas after the company

00:18issued weaker than expected Q3 sales guidance.

00:21The company opened at $6.28, hit a high at $7.28, and then tanked.

00:28This puts Navitas among today's biggest tech losers, right alongside of Inspire Medical

00:33and I-Corps.

00:34Are investors overreacting, or is this the start of a deeper pullback for small cap semis?

00:39Follow along to stay up to date.

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