ChipsThe Motley Foolabout 7 hours ago
Why Navitas Stock Plummeted Today
1 min read
Navitas Semiconductor stock falls 18.42% on Friday. The share price closes at $25.02 after a session drop of $5.65. The S&P 500 declines 2.6% and Nasdaq Composite drops 4.8%. The May jobs report shows 172,000 jobs added, exceeding forecasts of 80,000. Investors fear Federal Reserve rate hikes due to rising inflation.
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