Navitas Stock Declines Following Job Growth Report
Navitas Semiconductor (NASDAQ: NVTS) experienced a 7.6% decline in its stock price this week, closing out the period impacted by rising concerns over potential interest rate hikes by the Federal Reserve. This followed a stronger-than-anticipated job growth report from the Bureau of Labor Statistics (BLS), which showed that 172,000 nonfarm payroll jobs were added in May, significantly exceeding the 80,000 forecasted by economists.
Earlier in the week, Navitas shares had surged following news that Nvidia was showcasing its 800 V-to-6 V DC-DC power delivery board at the Computex 2026 conference. Despite the initial positive momentum, the stock faced significant sell-offs as market sentiment shifted post-report. During the same timeframe, the S&P 500 and Nasdaq Composite dropped by 2.6% and 4.7%, respectively.
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