Navitas Semiconductor Corp is trading 8.16% down at $28.17 today following a sharp post-rally pullback and the impact of a recent share issuance.
- The company issued 3,283,844 new shares on June 4, weighing on investor sentiment as market participants engage in profit-taking following a recent surge in the stock price.
- Broader weakness across the semiconductor sector and a decline in the Nasdaq are adding further downward pressure during the June 5 trading session.