POET Technologies Inc (POET) experienced a sharp pre-market decline of 5.07% on Thursday, as negative analyst commentary raised concerns about the company's business prospects and credibility.

The stock's decline follows a critical analysis highlighting POET's failure to secure major hyperscaler orders despite its optics technology buildout. According to the analysis, the company's proof of concept remains limited to a small win with Lumalens, an unfamiliar name in the industry, and it recently lost a significant opportunity with Marvell following a credibility-damaging CFO disclosure.

Analysts noted that POET's stock has been oscillating wildly between $10 and $20 with no fundamental anchor, leading to skepticism about its valuation. The commentary suggested that while POET could potentially benefit if it lands major hyperscaler contracts, the current lack of such deals makes it a speculative investment with substantial risk.