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Why Navitas Semiconductor Stock Is Soaring Today

TheMotleyFool

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Why Navitas Semiconductor Stock Is Soaring Today: https://g.foolcdn.com/editorial/images/822741/gettyimages-2083917031.jpg

Navitas Semiconductor (NASDAQ: NVTS) stock is seeing big gains in Tuesday's trading. The company's share price was up 8.4% as of 1:30 p.m. ET amid a 1% gain for the S 500 index (SNPINDEX: ^GSPC) and a 1.4% jump for the Nasdaq Composite (NASDAQINDEX: ^IXIC).

The company's valuation is surging today thanks to positive developments on geopolitical and macroeconomic fronts. The stock is also rising in conjunction with an announcement that the company has received an award from one of its partners.

Image source: Getty Images.

Source Fool.com