Stock Market Today, March 16: Navitas Rises After Launching New SiC Power Chips for AI Data Centers
2026-03-16 17:55:02 ET
Navitas Semiconductor (NASDAQ:NVTS) , a developer of GaN and SiC power chips, closed Monday at $10.49, up 3.86%. The stock moved higher during the regular session as traders responded to new 5th generation GeneSiC SiC MOSFET launches and are watching how these products translate into AI data center and energy infrastructure demand.
The company’s trading volume reached 44.8 million shares, which is about 105% above its three-month average of 21.8 million shares. Navitas Semiconductor went public in 2021 and has fallen 18% since its IPO.
The S&P 500 (SNPINDEX:^GSPC) added 1.01% to finish Monday at 6,699.38, while the Nasdaq Composite (NASDAQINDEX:^IXIC) rose 1.22% to close at 22,374. Within semiconductors, industry peers Wolfspeed (NYSE:WOLF) closed at $18.34 (up 9.82%) and ON Semiconductor (NASDAQ:ON) finished at $59.88 (up 2.27%).
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