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Why Navitas Semiconductor Stock Flew 15% Today

TheMotleyFool

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Why Navitas Semiconductor Stock Flew 15% Today

Shares of Irish semiconductor stock Navitas Semiconductor Corporation (NASDAQ: NVTS) soared in early trading Monday, rising 15.3% through 10 a.m. EST after investment bank Jefferies initiated coverage of the stock with a buy rating.

Navitas manufactures gallium nitride integrated circuits used to fast-charge smartphones, laptops, and similar electronic devices.

Image source: Getty Images.

Source Fool.com

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