Navitas Semiconductor (NVTS) Gains Double Digits Over US-China Trade Talks

We recently published a list of Small But Mighty: 10 Stocks That Stunned Wall Street Today. In this article, we are going to take a look at where Navitas Semiconductor Corporation (NASDAQ:NVTS) stands against other stocks that stunned Wall Street on Monday.

Navitas Semiconductor rallied by 18.12 percent on Monday to finish at $7.30 apiece as investors loaded up portfolios on expectations that the Chinese government would ease up on restrictions on semiconductor products.

This followed the ongoing trade negotiations between the US and China in London today, sparking optimism that the US would officially loosen restrictions on chip exports to China.

The news propelled the company’s stock price to a new all-time high of $7.87 before a slight profit-taking pulled down its price to end the day at $7.30.

Navitas Semiconductor Corporation (NASDAQ:NVTS) rallied alongside its peers such as Nvidia Corp., Advanced Micro Devices, and Intel Corp., among others.

Navitas Semiconductor (NVTS) Gains Double Digits Over US-China Trade Talks

Aerial view of a large solar panel array under construction in a rural China landscape.

Last week, Navitas Semiconductor Corporation (NASDAQ:NVTS) announced a new partnership with BrightLoop for the incorporation of its auto-qualified G3F SiC MOSFETs into the latter’s 250 kW HV-DC/DC converter, with an output of 950V DC at 480A, and can be paralleled to achieve megawatt power capability.

Overall, NVTS ranks 2nd on our list of stocks that stunned Wall Street on Monday. While we acknowledge the potential of NVTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.