Navitas Semiconductor Corp is trading approximately 5% down at $29.13 following the company's disclosure of a significant share issuance and as investors take profits after a recent surge.
- On June 4, Navitas issued 3,283,844 new shares of common stock to fulfill obligations from a prior merger agreement, increasing the total shares outstanding.
- The decline also represents profit-taking after the stock surged over 19% on June 3, driven by news of its collaboration with NVIDIA's AI ecosystem.
- Broader semiconductor sentiment is also weaker after Broadcom's stock fell despite strong earnings, as the market reacted to a minor shortfall in its software segment.
- The stock is retreating from its previous close of $30.67 recorded on June 04, 2026.