Navitas Semiconductor is trading at $11.26 (4.2% down) in pre-market, extending a sharp two-day slide following its July 16 drop.
- The decline is fueled by broader semiconductor sector weakness and ongoing concerns regarding recent patent litigation initiated by Wolfspeed.
- Investors are reacting to dilution overhang from new share issuance and capital-raising plans, which are adding pressure amid a risk-off environment for high-valuation AI chip stocks.