TLDR
- POET Technologies stock surged 108% week-on-week, hitting an 11-year high of $15.50 on Friday
- The rally was triggered by confirmation of a supply deal with Marvell Technology for 800G optical engines
- CFO Thomas Mika confirmed orders expected to push total 2025 orders past $5 million, with deliveries starting Q3
- The stock pulled back to $15.10 (+28.84%) by end of Friday’s session as profit-taking kicked in
- Jim Cramer cautioned the stock is “trading like they’re already in mass production” despite limited scale
POET Technologies stock hit a high of $15.50 Friday before closing at $15.10, a daily gain of 28.84%. The week-on-week move was 108%, the highest level for the stock since August 2014.
The catalyst was a confirmed supply deal with Marvell Technology. CFO Thomas Mika said on Stocktwits that POET had officially secured orders from Marvell for its 800G optical engines.
Mika said the orders are expected to push POET’s total 2025 order book past $5 million. Deliveries are targeted to begin in Q3 of this year.
The company is also waiting on responses from two other potential clients: Foxconn and Luxshare. “We expect to hear back from at least one of those,” Mika said.
The stock’s year-to-date gain now stands at 138.55%, and its current market cap sits at $2.31 billion.
The Pullback
The early spike drew in momentum traders, which helped push the stock to its intraday high. But once profit-taking began, the move reversed sharply.
A short squeeze added fuel to both the upswing and the drop. Heavy trading volume — average daily volume is over 13.7 million — amplified the swings in both directions.
Management also moved to dismiss an earlier short-seller report during the week. Plans for a U.S. redomiciling briefly lifted sentiment, but that enthusiasm faded without further news.
Analyst price targets were not materially revised following Friday’s move. The stock’s technical sentiment signal remains a buy.
Cramer Weighs In
Jim Cramer, former hedge fund manager and host of Mad Money, urged caution on POET.
“Let’s not get ahead of ourselves with these recent announcements,” Cramer said. “POET’s got a joint development agreement. They’re not producing this stuff at scale.”
He added: “The stock’s trading like they’re already in mass production, and that bothers me. Just look at the numbers. POET’s financials make it look more of a science project than a business.”
Cramer pointed to the gap between lab-level technology and commercial-scale manufacturing as the key risk investors need to weigh.
POET’s most recent confirmed position: orders from Marvell locked in, Foxconn and Luxshare decisions still pending, Q3 delivery window targeted.
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