Shares of Navitas Semiconductor Corp (NVTS) are set for a rough start in Friday's trading session, plummeting 5.19% in pre-market activity. This significant decline comes on the heels of news revealing substantial insider selling by key executives and board members.
The sell-off was primarily triggered by CEO Eugene Sheridan's sale of approximately 2.16 million shares, as reported in recent regulatory filings. Adding to investor concerns, two directors of the company, Gary Kent Wunderlich Jr. and David Moxam, also disposed of their holdings. Notably, Moxam sold 714,199 shares at $6.5 per share on May 27, retaining only 78,649 shares after the transaction.
The market's sharp reaction to these insider transactions underscores the weight investors place on such moves, especially when they involve high-ranking executives like the CEO. As trading continues, market participants are likely to closely monitor any further developments or statements from the company regarding these significant insider sales and their potential implications for Navitas Semiconductor's future prospects and current valuation.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。