POET Technologies Stock Surges On AI Award, Manufacturing Momentum

Shares of POET Technologies Inc POET are trading higher, continuing the stock’s upward trajectory on Thursday, building on a strong week of gains. Here’s what investors need to know.

What To Know: The surge follows back-to-back announcements from the Toronto-based company. On Wednesday, Poet Technologies revealed it had won the “AI Hardware Innovation Award” at the 8th annual AI Breakthrough Awards for its POET Teralight optical engines.

The company said the recognition highlights its innovative chip-scale design, which is critical for powering AI and hyperscale data center connectivity. The Teralight optical engine, praised for its high energy efficiency and performance, was selected from a pool of over 5,000 nominations.

“This latest recognition by AI Breakthrough is an important validation of our technology and the innovations we continue to bring to the marketplace,” said Suresh Venkatesan, chairman and CEO of Poet Technologies.

On Tuesday, Poet Technologies announced a master agreement with NationGate Solutions to manufacture optical engine assemblies in Penang, Malaysia. The move expands its production capabilities to meet growing demand from hyperscale data center clients.

The agreement complements an existing partnership with Globetronics and could mark a key step in scaling manufacturing to generate significant revenue.

POET Price Action: According to data from Benzinga Pro, POET stock is trading at $5.43, up over 7% for the day and more than 30% over the past five days. The stock has a 52-week high of $7.79 and a 52-week low of $1.69.

Read Also: What’s Going On With POET Technologies Stock Today?

How To Buy POET Stock

By now you're likely curious about how to participate in the market for POET Technologies – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

In the case of POET Technologies, which is trading at $5.55 as of publishing time, $100 would buy you 18.02 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

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