The S&P 500 is down by 1.2% at the time of writing, marking its third consecutive day of losses. The Nasdaq Composite also lost 1.7%, with significant declines in major tech stocks like Apple and Amazon, each dropping around 3%. This broader tech sector weakness has contributed to the downward pressure on Navitas’ stock.
NVTS Releases Fifth Generation Platform
“Our customers are redefining the boundaries of power conversion in AI data centers and energy infrastructure, and Navitas is marching along with them in every step of the way,” said Paul Wheeler, VP & GM of Navitas’ SiC Business Unit.
The technological advancements in Navitas’ 5th-generation platform are poised to strengthen its position in AI data centers, energy infrastructure and industrial electrification. However, the current market conditions, characterized by a rotation out of tech stocks, present a challenging environment for the company’s stock performance.
NVTS Stock Downshifts Thursday
NVTS Price Action: Navitas Semiconductor shares were down 3.54% at $8.45 at the time of publication on Thursday, according to Benzinga Pro data.
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