Navitas Semiconductor Corporation (NASDAQ: $NVTS
) shares remained up double digits in Tuesday pre-market trading after a sharp after-hours rally following Monday’s post-close announcement that the U.S. Army selected the company for the ALATTIS program.
NVTS was up 9.29% at $12.82 at approximately 8:41 a.m. ET Tuesday, after closing Monday at $11.73. The stock had fallen 3.85% during Monday’s regular session.
Shares initially rose about 20% in Monday after-hours trading after Navitas disclosed the award. By early Tuesday, the gain had eased from that initial spike but remained above 9.29% from Monday’s close.
Navitas said the U.S. Army selected the company for the Accelerated, Large-Area, 10 kV SiC IGBT, or ALATTIS, program to develop next-generation ultra-high-voltage silicon-carbide power semiconductor technology.
The prototype project aims to develop and validate a domestic manufacturing process for silicon-carbide power semiconductor devices rated at 10 kV or higher through iterative design, fabrication, and testing. The Army Research Laboratory sponsors the project, while the Joint Experimentation and Technology Accelerator, or JETX, supports the program.
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) shares remained up double digits in Tuesday pre-market trading after a sharp after-hours rally following Monday’s post-close announcement that the U.S. Army selected the company for the ALATTIS program.
NVTS was up 9.29% at $12.82 at approximately 8:41 a.m. ET Tuesday, after closing Monday at $11.73. The stock had fallen 3.85% during Monday’s regular session.
Shares initially rose about 20% in Monday after-hours trading after Navitas disclosed the award. By early Tuesday, the gain had eased from that initial spike but remained above 9.29% from Monday’s close.
Navitas said the U.S. Army selected the company for the Accelerated, Large-Area, 10 kV SiC IGBT, or ALATTIS, program to develop next-generation ultra-high-voltage silicon-carbide power semiconductor technology.
The prototype project aims to develop and validate a domestic manufacturing process for silicon-carbide power semiconductor devices rated at 10 kV or higher through iterative design, fabrication, and testing. The Army Research Laboratory sponsors the project, while the Joint Experimentation and Technology Accelerator, or JETX, supports the program.
#CryptoNewss