Navitas (NVTS) Soars 22% on $100-Million Fundraising Program

We precocious published 10 Stocks Beating the Market with Eye-Popping Gains. Navitas Semiconductor Corp. (NASDAQ:NVTS) is 1 of the best-performing stocks connected Monday.

Navitas snapped a five-day losing streak connected Monday, soaring 22.45 percent to adjacent astatine $9.60 apiece, aft successfully raising $100 cardinal successful caller funds to concern its enlargement program.

In an updated report, Navitas Semiconductor Corp. (NASDAQ:NVTS) said it sold much than 14.8 cardinal caller communal shares nether a backstage placement astatine a terms of $6.75 apiece.

“This superior rise enables america to enactment Navitas’ translation and accelerate our momentum into higher-power markets,” said Navitas Semiconductor Corp. (NASDAQ:NVTS) President and CEO Chris Allexandre.

“We’re fueling and energizing the displacement to Navitas 2.0, focusing our vigor connected the high-power markets that are shaping the future: AI information centers, show computing, vigor and grid infrastructure, and concern electrification,” helium added.

The stock merchantability followed the results of the company’s net show successful the 3rd 4th of the year.

During the period, Navitas Semiconductor Corp. (NASDAQ:NVTS) incurred a 2.7 percent higher nett nonaccomplishment of $19.2 million, versus the $18.7 cardinal year-on-year.

Revenues besides dropped by 53.4 percent to $10.1 cardinal from $21.68 cardinal successful the aforesaid comparable period.

For the 4th fourth of the year, Navitas Semiconductor Corp. (NASDAQ:NVTS) expects revenues to beryllium astatine $7 million, positive oregon minus $250,000, owed to a strategical determination to deprioritize debased power, little nett from China mobile and user business, arsenic good arsenic streamline organisation web and trim transmission inventory to pivot to higher powerfulness gross and customers.

While we admit the imaginable of NVTS arsenic an investment, our condemnation lies successful the content that immoderate AI stocks clasp greater committedness for delivering higher returns and person constricted downside risk. If you are looking for an highly inexpensive AI banal that is besides a large beneficiary of Trump tariffs and onshoring, spot our escaped study connected the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double successful 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This nonfiction is primitively published at Insider Monkey.