🔴 Navitas Semiconductor Corp extends slide, down 4.2% as director's resignation adds to profit-taking pressure

Navitas Semiconductor Corp is trading at $21.89, down 4.2%, continuing a significant sell-off after its recent AI-fueled rally. The decline is intensified by new company-specific developments alongside ongoing profit-taking.

• The stock is under pressure following the resignation of board member Dr. Ranbir Singh, effective June 9, 2026, which was disclosed in an 8-K filing.
• This development adds a layer of uncertainty, compounding the profit-taking that began last week after the stock's massive surge on the heels of its NVIDIA AI collaboration news.