Why Navitas Semiconductor Stock Soared Today
Navitas Semiconductor (NASDAQ: NVTS) saw big gains in Tuesday's trading thanks to Trump-related catalysts. The company's share price ended the day's trading up 9.2%. Meanwhile, the S 500 index ended the day up 0.8%, and the Nasdaq Composite closed out the session up 0.6%.
Navitas gained ground early in today's trading on news that President Trump was reversing an executive order on artificial intelligence (AI) that was enacted under the Biden administration. The company's share price got another boost later in the day following reports of a new AI investment initiative led by Trump.
During his tenure, President Biden issued an executive order that required companies researching and developing AI to submit any findings that could be of interest along national security, economic, and other lines to the federal government. The order also required AI applications to uphold a series of other principals outlined by the Biden administration.
Source Fool.com
