POET Technologies Inc (NASDAQ: POET) tanked on Monday morning after Marvell Technology abruptly canceled all outstanding purchase orders, citing an alleged breach of confidentiality.
Following the post-announcement crash, POET looks headed to challenge its 20-day MA.
A clear break below the $7.83 level is broadly expected to accelerate bearish momentum in the near-term.
POET shares have been rather volatile in 2026; they started in April at roughly $5, soared all the way up to $15 last week, and are now hovering again at about $8 only.
CFO’s remarks that prompted a sell-off in POET stock
POET Technologies stock is slipping today primarily because of what CFO Thomas Mika recently said in a high-profile interview with Stocktwits.
Speaking with the finance media platform, Mika explicitly named Marvell as a major customer – confirming that POET had received a purchase order tied to Marvell’s hardware ecosystem.
This disclosure was intended to validate his firm’s “Optical Interposer” tech to retail investors, but it ended up violating strict non-disclosure agreement (NDA) typical of high-stakes semiconductor partnerships.
MRVL has – therefore – responded by issuing a formal notice of cancellation on April 23, alleging the unauthorized disclosure of shipping details and order specifics constituted a terminal breach of contract.
Significance of MRVL news for POET Technologies shares
Losing business from Marvell Technology is a catastrophic blow to POET stock because the giant represented the most credible link between the Canadian firm and the huge AI data center market.
Investors had bid it up on the belief that its components were being integrated into next-generation AI chips, potentially even those being developed for Alphabet’s Google.
Without Marvell’s stamp of approval, POET Technologies Inc is once again relegated to the status of a speculative micro-cap with unproven commercial scale.
In short, the cancellation removes a vital revenue pipeline and, perhaps more damagingly, stains the firm’s reputation, making other tier-one tech giants like Nvidia or Broadcom wary of entering future co-development agreements.
POET remains a high-risk investment in 2026
Beyond the Marvell debacle, POET’s fundamentals remain dangerously thin. Before the crash, the stock was trading at a massive premium to its book value, fuelled mostly by social media hype.
Financially, the company remains a “money pit” losing nearly $63 million in 2025 on a meager $1 million in total revenue.
While recent $150 million share offering provided a temporary cash runway, the ongoing burn and lack of mass production milestones make POET Technologies shares a high-risk investment.
With short-sellers like Wolfpack Research circling and Jim Cramer previously warning the market has priced in production that doesn’t exist, POET appears to be a classic story of “too much talk, too little tech.”
And the company does not currently pay a dividend either to incentivize ownership, despite these risks.
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