POET Technologies is the newest low-price stock seeing record volumes and call activity thanks to retail traders
The optical communications tech company spiked Tuesday and is well on its way to another big gain on Wednesday.
POET Technologies is the new shiny toy for retail traders.
The company, whose optical communication tech aims to speed data transmission in AI data centers, soared 23% on Tuesday amid record volumes and call option volumes after announcing it raised $75 million from a single institutional investor through the sale of stock and warrants.
Shares are surging again in early trading on Wednesday, seemingly poised to break both of Tuesday’s aforementioned volume records.
It’s the most mentioned and most positively mentioned ticker on Reddit’s r/WallStreetBets over the past 24 hours, per SwaggyStocks.
“The massive growth of AI infrastructure represents an unprecedented opportunity for which POET is well prepared,” said Dr. Suresh Venkatesan, executive chairman and chief executive officer. “With a war chest of over $150 million in cash and no significant debt, we are now able to scale up our own growth ambitions in the market for advanced AI hardware solutions.”
Traders are seemingly eager to bet on the company’s short- and long-term upside via options:
The 10 most popular options contracts traded on Tuesday were all calls, some of which expire as soon as this Friday while others stretch out all the way to January 2028.
All the ingredients for a meme stock are here: r/WSB love, a long history that’s seen the shares trade above $25 at their peak, ties to a buzzy industry, and high options activity.
