POET Technologies Inc (NASDAQ:POET) shares climbed on Wednesday. The move extends a recovery following a recent short-seller report from Wolfpack Research.

The Nasdaq is up 0.83% while the S&P 500 has gained 0.74%.

CFO Calls Claims A ‘Nothing Burger'

Executive leadership is fighting back against bearish allegations. POET CFO Thomas Mika addressed claims regarding the company's Passive Foreign Investment Company status.

Mika told Stocktwits the warning was a "big nothing burger." He noted the company is in a net loss position, meaning U.S. shareholders have nothing to declare.

Mika called short sellers "maggots" during his discussion. He accused the firm of timing the report to create anxiety before Tax Day.

POET also, for the first time, confirmed its business relationship with Marvell Technology Inc. (NASDAQ:MRVL) during the interview.

AI Product Pipeline Progress

Investors are shifting focus toward the company's AI footprint.

POET is partnering with Lessengers to develop 1.6T optical transceiver modules. These modules target high-density AI data center networks.

Earnings Miss & Short Squeeze

On March 31, POET reported quarterly losses of 32 cents per share. This missed the analyst estimate of 9 cents. Sales of $341,202 also fell short of the $400,000 consensus, according to Benzinga Pro.

The short interest in POET Tech stands at 8.63%, and the stock may be experiencing a short squeeze.

Technical Analysis

POET is pushing into fresh 52-week highs, clearing the prior $11.09 peak. The stock is trading 83.3% above its 20-day simple moving average (SMA) and 85.3% above its 100-day SMA.

The relative strength index (RSI), a momentum gauge, is 76.92.

The longer-term backdrop remains powerful: the stock is up 212.56% over the past 12 months.

  • Key Resistance: $13
  • Key Support: $6.50

POET Stock Price Activity: POET Technologies shares were up 24.05% at $12.71 at the time of publication on Wednesday, according to Benzinga Pro data.

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