Shares of POET Technologies Inc (POET) climbed sharply on Wednesday, extending a recovery that started after a short-seller report from Wolfpack Research. The Nasdaq was up 0.83% and the S&P 500 gained 0.74%, but POET was the real story, soaring 24.05% to $12.71. So what's driving this rally? Let's break it down.
POET Technologies Stock Soars as CFO Fires Back at Short Sellers and AI Progress Shines
MarketDash
POET Technologies shares surged over 24% as the company's CFO dismissed a short-seller report as a 'nothing burger' and highlighted advancements in AI optical modules, fueling a rally that has pushed the stock to new highs.
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CFO Calls Claims A ‘Nothing Burger'
Executive leadership isn't just sitting back—they're fighting back. POET CFO Thomas Mika addressed claims about the company's Passive Foreign Investment Company status, which had some investors worried. In a chat on Stocktwits, Mika called the warning a "big nothing burger." He explained that since the company is in a net loss position, U.S. shareholders have nothing to declare anyway. Not one to mince words, Mika also called short sellers "maggots" and accused Wolfpack of timing the report to create anxiety right before Tax Day. It's the kind of blunt talk that gets attention, and investors seem to be listening.
During that same interview, POET did something else noteworthy: for the first time, it confirmed its business relationship with Marvell Technology Inc. (MRVL). That's a big deal—it adds a layer of credibility and shows the company isn't just talking about partnerships; it's actually working with major players in the tech space.
AI Product Pipeline Progress
Beyond the short-seller drama, investors are starting to focus on what POET is actually building. The company is partnering with Lessengers to develop 1.6T optical transceiver modules. These aren't just any components—they're designed for high-density AI data center networks. In a world where AI infrastructure is booming, that's a promising niche. It's a shift from the noise of the short report to the signal of real product development, and it's giving traders something to get excited about.
Earnings Miss & Short Squeeze
Now, it's not all smooth sailing. On March 31, POET reported quarterly losses of 32 cents per share, which missed the analyst estimate of 9 cents. Sales came in at $341,202, also short of the $400,000 consensus. That's a miss, plain and simple. But here's where it gets interesting: the short interest in POET stands at 8.63%, and with the stock rallying this hard, there might be a short squeeze happening. When short sellers rush to cover their positions, it can fuel even more upside—and that seems to be playing out here.
Technical Analysis
From a technical perspective, POET is on a tear. The stock is pushing into fresh 52-week highs, clearing the prior peak of $11.09. It's trading 83.3% above its 20-day simple moving average and 85.3% above its 100-day SMA. The relative strength index, a momentum gauge, is at 76.92—that's getting into overbought territory, but it also shows just how strong the buying pressure has been. The longer-term backdrop is powerful too: over the past 12 months, the stock is up 212.56%. Traders are watching key resistance at $13 and support at $6.50, but for now, the momentum is clearly to the upside.
In short, POET's rally is a mix of aggressive pushback against short sellers, confirmation of key partnerships, progress in AI tech, and some good old-fashioned market mechanics. Whether it holds is another question, but for Wednesday at least, investors are cheering.
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