Why Poet Technologies Stock Is Up Today

POET Technologies Inc. POET shares are trading higher Monday. The company announced Friday that it has been selected as winner of the “Best Optical AI Solution” award in the seventh annual AI Breakthrough Awards program.

The Details:

Poet's microchip solution, the POET Optical Interposer, enables optical communication using a silicon-based hybrid integration platform. The optical interposer combines electrical and optical layers in a single chip for highly integrated transceivers and enables the replacement of copper with light-based optical data communication between chips in high-speed computing.

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“With POET’s technology, AI hardware developers can deploy next-generation networks that outperform existing solutions, reduce costs, and improve power efficiency. This is a period of high demand for 800G transceivers, and while an optical engine is not a complete transceiver, it includes all but one of a transceiver’s major components, and it can represent well over 50% of the cost,” said Steve Johansson, managing director of AI Breakthrough. 

Poet shares are moving on heavy trading volume Monday. According to data from Benzinga Pro, more than 7.1 million shares have been traded in the session, compared to the stock’s 100-day average of less than 858,000 shares.

Should I Sell My POET Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Poet Technologies have decreased by 39.59% in the past year. An investor who bought shares of Poet Technologies at the beginning of the year would make a profit of $1.74 per share if they sold it today. The stock has risen 54.34% over the past month, meaning an investor who bought shares on June 1 would see a capital gain of $0.94.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Poet Technologies stock currently has an RSI of 74.67, indicating overbought conditions.

For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.

POET Price Action: According to Benzinga Pro, Poet Technologies shares are up 28.7% at $2.66 at the time of publication Monday.

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Image: Brian Penny from Pixabay