Why Nvidia-Backed Navitas Semiconductor Is Soaring Today
Shares of Navitas Semiconductor (NASDAQ: NVTS) are soaring on Tuesday. The company’s stock jumped 15.7% as of 1:02 p.m. ET. The move comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.6% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) jumped 1%. The innovative semiconductor company, which uses gallium nitride (GaN) and silicon carbide (SiC) instead of the…