Navitas Semiconductor is trading 14% down today at $9.61 as the stock reverses its post-earnings rally amid a broader semiconductor sector sell-off and shifting market sentiment.
- The decline follows an initial positive reaction to the company's July 27 earnings beat and strong Q3 revenue growth guidance.
- Traders are rotating out of AI-exposed names due to concerns over heavy capital spending, increased competition in China, and risk-off sentiment ahead of the Fed meeting.
- The sell-off reflects a broader valuation reassessment across the semiconductor industry following recent high-growth runs.