POET Technologies Inc. - Common Shares (POET)

Shares of POET Technologies Inc (NASDAQ:POET) are trading lower Thursday morning after a strong rally earlier in the week. Here's what investors need to know.

A $75 million capital raise and partnerships with industry giants are fueling optimism, but revenue remains minimal.

Shares of POET Technologies are trading higher Wednesday after the company announced the closing of a $75 million private placement with a single institutional investor.

U.S. stock futures rose on Wednesday following Tuesday’s declines. Futures of major benchmark indices were higher.

Shares of the optical chips maker soared over 23% on Tuesday, after it announced the closing of the private placement offer.

After-hours trading saw POET Technologies' shares jump 7.87% to $8.50, continuing the momentum from a strong regular session.

On Tuesday, major U.S. indices closed lower, with the Dow Jones Industrial Average slipping 0.2% to 46,602.98, the S&P 500 falling nearly 0.4% to 6,714.59.

‍POET's Optical Interposer platform integrates Semtech FiberEdge® technology to achieve cutting-edge sensitivity and power efficiency at 200G per lane

U.S. stocks were lower, with the Nasdaq Composite falling more than 100 points on Thursday.

Shares of POET Technologies Inc. (NASDAQ: POET) are up Wednesday on continued momentum after the company shared Tuesday that it received a significant order for one of its technologies. POET, which is based in Toronto, produces infrastructure critical to data centers.

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POET shares are trading higher 17% Wednesday, adding to gain of more than 5% over this past week.