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Why Is POET Technologies Stock Trending Overnight?
Benzinga·
POET Technologies (NASDAQ:POET) surged 11.28% in after-hours trading after reporting improved Q1 results with a net loss of $0.08 per share versus $0.32 in Q4, and triple the revenue year-over-year. The rally was fueled by a $50 million initial purchase order from Lumilens with potential to scale to $500 million over five years, plus new partnerships with Lessengers and LITEON Technology. The stock has gained 358% over 12 months and is trading near its 52-week high.
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