5 Stocks With Easy Double-Digit Returns

2. POET Technologies Inc. (NASDAQ:POET)

POET Technologies rallied for a second day on Monday, climbing 27.09 percent to close at $13.90 apiece, as investors resumed buying positions ahead of the results of its earnings performance this week.

Based on its historical reporting dates, POET Technologies Inc. (NASDAQ:POET) is scheduled to release its financial and operating highlights for the first quarter of the year on Wednesday, May 13.

The rally was primarily boosted by announcements late last month that it secured a new $5 million order from an unnamed technology firm for its optical engines and light products, despite a cancellation of an order from one of its major customers over an alleged confidentiality breach.

It can be recalled that POET Technologies Inc. (NASDAQ:POET) Chief Finance Officer Thomas Mika confirmed in an interview earlier that the company secured orders from Marvell Technology, which is expected to boost its total orders to more than $5 million for this year. Deliveries, he said, were supposed to begin in the third quarter of the year.

Marvell’s cancellation prompted an investigation by shareholder law firms to probe into potential securities violations.

“The company remains focused on executing its strategic priorities and advancing product development within the AI and optical networking markets to meet increasing demand,” POET Technologies Inc. (NASDAQ:POET) assured.