Overview
- Navitas shares hit a record near $18.67 this week before easing in premarket trade as some holders took profits.
- The run gathered pace after the company added former Broadcom executive Gregory M. Fischer to its board, a move that lifted the stock about 7% the day it was disclosed.
- Trading has turned jumpy as short sellers cover, with about a quarter of freely traded shares sold short and roughly two days of typical volume needed to exit.
- Navitas is shifting to gallium nitride and silicon carbide power chips that waste less energy and run cooler, targeting AI data centers where moving power efficiently has become a growing constraint.
- The company is still small and unprofitable with 2025 revenue of $45.92 million and Q1 guidance of $8.0 to $8.5 million, so the next earnings update will test whether the pivot is starting to gain traction.