Navitas (NVTS) Soars 23% as New Exec Joins

Navitas Semiconductor Corp. (NASDAQ:NVTS) is one of the 10 Stocks Making Huge Moves this Week.

Navitas Semiconductor saw its share prices jump by 23.17 percent on Friday to finish at $10.10 apiece, as investor sentiment was primarily boosted by the appointment of a new chief finance officer (CFO) to lead the company’s financial strategy and growth.

In a statement, Navitas Semiconductor Corp. (NASDAQ:NVTS) named Tonya Stevens as its new Finance chief, replacing Todd Glickman, who earlier announced his departure to pursue other opportunities. The transition will take effect on March 30.

Stevens will join the company from Lattice Semiconductor, where she served as Chief Accounting Officer and previously as Interim CFO.

Navitas (NVTS) Soars 23% as New Exec Joins

A semiconductor. Photo by Tima Miroshnichenko on Pexels

As new CFO, she will be tasked to oversee the semiconductor firm’s financial strategy, investor relations, treasury, and the global finance organization and lead the path to profitability.

Appointments aside, investors also took heart from a market expert’s optimistic comments about Navitas Semiconductor Corp. (NASDAQ:NVTS).

In the recent episode of Mad Money, host and former hedge fund manager Jim Cramer said that the company “got really great technology” and that “should ultimately translate into great earnings.”

In other news, Navitas Semiconductor Corp. (NASDAQ:NVTS) recently launched two new 5th-generation semiconductor products said to set “a new industry benchmark” for power density and ruggedness.

Called the top-side cooled QDPAK and a low-profile TO-247-4L, the products are aimed at addressing the needs of AI data centers.

While we acknowledge the risk and potential of NVTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVTS and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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