POET Technologies Inc (NASDAQ:POET) shares are sliding on Wednesday after a key customer order cancellation raised fresh questions about near-term revenue visibility. Here’s what investors need to know.
- POET Technologies shares are showing limited movement. Where are POET shares going?
What Caused POET Technologies’ Recent Stock Decline?
Marvell Semiconductor has canceled all outstanding purchase orders tied to Celestial AI (a company Marvell recently acquired) after POET received a cancellation notice on April 23 that effectively ends a partnership that included initial production units first disclosed by POET in April 2023. Marvell's stated rationale is that POET breached confidentiality obligations by disclosing sensitive purchase-order and shipping details.
POET has tried to counterbalance the hit by pointing to a separate $5 million purchase order with another technology firm, but the market is still treating the Marvell cancellation as the dominant near-term driver.
Traders also continue to weigh the confidentiality allegation as a potential overhang on future partner conversations, as laid out in the dominant near-term narrative this week.
POET Stock: Key Levels and Trends to Watch
POET is still in a longer-term uptrend when you zoom out, but the current setup is getting more two-sided as the stock digests the partnership shock. The stock is trading 5% below its 20-day simple moving average (SMA) while sitting 11.1% above its 100-day SMA, a mix that hints at short-term cooling inside a still-positive intermediate trend.
The moving average convergence divergence (MACD), a trend/momentum measure, remains bullish with the MACD line above the signal line and a positive histogram, which typically aligns with buyers still having some control. That said, the golden cross in April (50-day SMA moving above the 200-day SMA) is now being tested by sentiment, so traders often watch whether pullbacks stay orderly or start breaking structure.
- Key Resistance: $8.50 — a ceiling area where rallies can stall if sellers defend it.
- Key Support: $6.50 — a demand zone where buyers have tended to show up.
What Is POET Technologies And How Does It Operate?
POET Technologies is a design-and-development company building high-speed optical engines, light source products and custom optical modules for AI systems and hyperscale data centers. Its core pitch is the POET Optical Interposer, a patented platform that integrates electronic and photonic devices into a single chip using wafer-level semiconductor manufacturing techniques.
That matters for this week's news because losing a strategic relationship tied to production units can quickly change how investors think about the timing of commercialization and customer concentration risk.
The company operates across the United States, Canada, Singapore and China, and its integration approach targets communication, computing, and sensing use cases where scale-up execution and partner trust are critical.
POET Stock Price Movement on Wednesday
POET Stock Price Activity: POET Technologies shares were down 14.32% at $6.88 at the time of publication on Wednesday, according to Benzinga Pro data.
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