On May 29, POET Technologies fell 8.63% in regular trading, trading at $12.095/share, with trading volume of approximately $101 million.

On the news front, the decline was primarily driven by a broad pullback across U.S.-listed optical communication stocks. Multiple peers declined in tandem — Applied Optoelectronics fell over 4%, while Lumentum, Coherent, and Astera Labs each dropped more than 2%, reflecting sector-wide adjustment pressure.

Adding to the bearish sentiment, the company continues to face headwinds from recent large-scale financing that introduced share dilution concerns, as well as ongoing securities class action lawsuits filed by multiple U.S. law firms. These lawsuits allege disclosure failures related to PFIC tax status and a CFO breach of a non-disclosure agreement that led to Marvell canceling all orders tied to CelestialAI. Meanwhile, sector divergence remains notable, with semiconductor leaders Micron Technology rising 6.11% and Broadcom gaining 4.42%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)