POET Technologies Inc (NASDAQ:POET) shares are edging higher Thursday morning as traders assess the near-term fallout from a major customer order cancellation and what it means for commercialization timing.
POET is trying to stabilize after a roughly 50% wipeout earlier this week tied to Marvell Semiconductor voiding Celestial AI-related orders, and traders are likely weighing whether the company's separate $5 million purchase order can backstop near-term revenue expectations.
- POET Technologies shares are advancing steadily. What’s pushing POET stock higher?
Marvell Terminates Celestial AI Orders Following Alleged Confidentiality Breach
Marvell Semiconductor has canceled all outstanding purchase orders tied to Celestial AI after POET received a cancellation notice on April 23, effectively ending a partnership that included initial production units first disclosed by POET in April 2023. Marvell said the move followed an alleged confidentiality breach related to purchase-order and shipping disclosures.
POET has pointed to a separate $5 million purchase order with another technology firm, but the market has treated the Marvell exit as the main near-term driver for revenue visibility. The confidentiality allegation is also being watched as a potential overhang on future partner discussions.
POET has also acknowledged there is no assurance it can re-establish the Marvell relationship, which keeps investors focused on whether other programs can replace the lost Celestial AI ramp. The market reaction earlier in the week reflected that skepticism as shares plunged on the notice received April 23.
Critical Technical Levels For POET Stock
POET is sitting in the lower half of its 52-week range after a sharp reset from the April peak, which keeps the chart more two-sided than it was earlier in the year. The stock is trading 15.1% below its 20-day simple moving average (SMA) and 0.4% below its 100-day SMA, a combo that points to short-term cooling while the intermediate trend is closer to flat.
The moving average convergence divergence (MACD), a trend/momentum measure, has the MACD line below the signal line with a negative histogram, which leans toward fading upside momentum after the recent shock. That matters more right now because the golden cross in April (50-day SMA above the 200-day SMA) is still on the chart, but it's being tested by weaker near-term momentum.
On a longer lens, the stock is up 65.20% over the past 12 months, which shows the bigger trend has still rewarded risk-takers despite the recent drawdown. With price now much closer to the 200-day SMA (and still above it), traders tend to watch whether pullbacks stay "contained" or start breaking longer-term structure.
- Key Resistance: $7.50 — an area where rebounds have room to stall if sellers defend.
- Key Support: $6.50 — a level buyers have tended to respond to on dips.
What Does POET Technologies Do?
POET Technologies is a design and development company offering high-speed optical engines, light source products and custom optical modules to the artificial intelligence systems market and hyperscale data centers.
Its integration solutions are built around the POET Optical Interposer, a patented platform designed to integrate electronic and photonic devices into a single chip using wafer-level semiconductor manufacturing techniques.
POET Shares Edge Higher Thursday Morning
POET Stock Price Activity: POET Technologies shares were trading higher by 0.61% at $6.64 at the time of publication on Thursday, according to Benzinga Pro data.
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