Navitas Semiconductor Corp (NVTS) experienced a significant pre-market plunge of 5.24%, reflecting negative sentiment during early trading hours.

The decline aligns with a broad selloff in the semiconductor sector, with multiple chip and storage stocks falling in overnight trading, indicating sector-wide pressure affecting investor confidence.

Company-specific headwinds compounded the downward movement, including market reaction to a recent announcement of a planned stock offering raising dilution fears, alongside Q1 financial results showing substantial debt and a negative earnings per share, contributing to ongoing profitability concerns.