Small But Mighty: 10 Stocks That Stunned Wall Street Today

2. Navitas Semiconductor Corporation (NASDAQ:NVTS)

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.

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.