POET Technologies Shares Rise After Addressing Short Report and Clarifying PFIC Status
POET Technologies (POET) shares surged by 18.32% following the company's response to a short-seller report and clarification of its PFIC tax status. The stock's rise was driven by investor confidence in the company's AI-focused growth and funding plans. The broader U.S. markets saw modest declines, with the S&P 500 and Nasdaq Composite both down slightly.
Topics: market reaction short-seller rebuttal stock price movement tax concerns