🔴 Navitas Semiconductor Corp is trading 4.2% down today following board member resignation

Navitas Semiconductor Corp is trading 4.2% down at $21.89 in pre-market following the immediate resignation of board member Dr. Ranbir Singh.

• The departure of Dr. Singh, who served as chair of the Executive Steering Committee, has introduced governance uncertainty for the company.
• The move extends a multi-day pullback from recent highs, coinciding with a sharp reversal in high-beta semiconductor stocks.
• Selling pressure is further exacerbated by a broader decline in risk appetite reflected in weaker index futures.