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POET Technologies Inc (NASDAQ:POET) shares are retreating on Thursday. This move follows a massive 75% rally earlier this week. The Nasdaq is down 0.33% while the S&P 500 has shed 0.08%.
Natural Pullback After Massive Rally
Traders are likely taking profits on Thursday. The stock surged after CFO Thomas Mika dismissed a Wolfpack Research report.
Mika called the bearish allegations a “big nothing burger.” He also confirmed a business relationship with Marvell Technology Inc (NASDAQ:MRVL).
Short Sellers Increase Pressure
Bearish bets against …
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