POET Technologies Inc (OTCMKTS:POETF) Stock Attempts To Rebound After The News
POET Technologies Inc (OTCMKTS:POETF) stock moved higher after the recent fall. The stock is up over 305 so far this year.
Market Action
In Wednesday’s trading session, POETF stock closed higher by 2.80% to $0.81. More than 345k shares have exchanged hands, above its average volume of 238K shares. The stock opened at $0.81 and moved in a range of $0.7960 – 0.8315.
POET Technologies Launches Its Products and Optical Interposer Platform in China to Critical Acclaim
Here are the highlights:
POET Technologies announced that its participation in the two leading optoelectronics conferences / exhibitions in China earlier this month generated overwhelming interest and numerous customer engagements in both its announced Optical Engine products and the novelty and versatility of its Optical Interposer platform. Notably, Shenzhen Fibertop Technology Co., Ltd., (“Fibertop”) a transceiver module supplier, committed during the week to incorporate POET Optical Engines in its line of optical modules as soon as production Optical Engines are available.
Live demos of six different applications of the POET Optical Interposer encompassing both standard and custom products developed by POET were conducted over five full days (September 14 – 18) in conjunction with the ICCSZ and CIOE Conferences. The live demos were held in meeting rooms located at both of the conference venues and in POET’s lab in Shenzhen, China. In addition, Dr. Mo Jinyu, POET’s Senior Vice President – Asia, gave an invited presentation during the ICCSZ Conference which was attended by nearly one thousand industry participants.
Among the attendees of the live demonstrations were more than 60 C-level and senior R&D executives representing over 20 companies, including major China-based network equipment suppliers, Tier 1 transceiver module companies, leading optical module and fiber optic companies (several of which are publicly traded), data center operators, and major multi-billion-dollar public enterprise companies seeking to expand into the optical transceiver business. Strong interest was shown in engaging with POET on both a strategic level and in evaluating and subsequently sourcing the Company’s Optical Engine products outlined in its roadmap.
Trader Notes:
POETF stock is trading below all the key moving averages with 200-day and 50-Day SMA stands at 0.84 and $0.85 respectively. Over the past year, the stock has soared over 98%. Will the stock be able to find the bottom and recover from the oversold zone?
