The stock price surged due to order news, and then plummeted when the order was canceled. This kind of stock can cause significant losses in just one go.
Poet Technologies' stock craters nearly 50% in record drop, as Marvell relationship sours
Poet Technologies' stock plummeted nearly 50% after the company announced that Marvell Technology canceled all purchase orders due to alleged breaches of confidentiality. The stock had reached a high of $15.50 last week before the announcement triggered a record selloff. Investors expressed outrage over the delayed disclosure of the cancellation, leading to significant backlash on social media. The company remains focused on its strategic priorities and fulfilling other customer orders, despite the controversy surrounding its governance and business practices.
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