Navitas Semiconductor Corp's stock surged 9.93% during intraday trading on Wednesday, marking a significant upward movement for the semiconductor company.

The stock's rise follows the company's fourth-quarter earnings report, which showed an adjusted loss of $0.05 per diluted share, narrower than the $0.06 loss per share reported a year earlier. While revenue declined to $7.3 million from $18 million a year ago, it still exceeded analysts' expectations of $6.9 million.

Additionally, Navitas provided optimistic first-quarter revenue guidance ranging from $8 million to $8.5 million, surpassing the consensus estimate of $7.7 million. The combination of a narrower-than-expected loss, revenue beat, and strong forward guidance appears to have driven investor optimism and the stock's substantial gain.