Poet Technologies Stock Crashed After Marvell Canceled Orders: What Comes Next?
Poet Technologies Stock Crashed After Marvell Canceled Orders: What Comes Next?
https://www.fool.com/investing/2026/04/27/poet-technologies-stock-crashed-after-marvell-canc/
Publish Date: 2026-04-27 17:36:00
Source Domain: www.fool.com
Poet Technologies (POET 47.45%) stock has seen incredible volatility recently. While the company’s share price rocketed 108% higher across last week’s trading, the stock got crushed this Monday as the substantive grounds for the fiber-optics specialist’s recent valuation rally evaporated.
Poet stock closed out Monday’s trading down roughly 47% — a decline that wiped out nearly all of the gains that the stock had posted in the previous week. The company’s share price had enjoyed a huge rally last week thanks to news that the business had seemingly secured and expanded a contract with a business associated with Marvell Technology, but Poet shareholders recently got some terrible news about the deal.
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Poet stock just saw a massive reversal
Poet Technologies stock saw a massive rally last week amid news suggesting the company had landed a major new contract. In an interview with Stocktwits, Poet CFO Thomas Mika seemingly confirmed that the company had landed a contract with Celestial AI. Notably, Celestial AI was acquired by Marvell Technologies in a buyout deal that closed in February.
Marvell is a semiconductor design company that provides networking hardware and data storage chips, and the company has recently come into focus as a major player in the artificial intelligence (AI) revolution. Nvidia announced this year that it had made a $2 billion investment in the hardware specialist and that it was moving forward with a bigger integration of the company’s technologies into its own tech stack. Unfortunately, it looks like a partnership with Marvell may no longer be a positive catalyst for Poet.
Poet recently revealed that it had lost its contract order with Celestial AI. CFO Thomas Mika’s interview with Stocktwits last week seemingly not only confirmed that a previously announced $5 million order was connected with the Celestial AI business now owned by Marvell, but also suggested that the order level had now exceeded that…
