A CFO’s Social Media Slip Torpedoes POET Technologies as Marvell Pulls the Plug

POET Technologies shares plunged 50% after Marvell Technology terminated all contracts, alleging CFO Thomas Mika leaked customer details on Stocktwits and YouTube. The $5M order loss raises legal and credibility concerns.

The optics sector has a new cautionary tale about the perils of loose lips in the age of social media. POET Technologies saw its shares halve in a single session after Marvell Technology, fresh off a $3.25 billion acquisition of Celestial AI, tore up all existing contracts with the Canadian photonics firm. The trigger? Allegations that POET’s own chief financial officer had been broadcasting sensitive customer details on Stocktwits and YouTube.

The Fallout in Numbers

The stock cratered from a session high of $10.42 to close near $7.95, wiping out roughly half the company’s market value in one afternoon. Trading volume exploded to 199.1 million shares — roughly nine times the three-month daily average. Even after the drubbing, POET still commands a market capitalization of around $1.2 billion, a figure that stands in stark contrast to its revenue base: just $341,200 in the fourth quarter of 2025.

The canceled orders, which included original production contracts dating back to April 2023 plus expanded agreements for 800G optical modules, were valued at more than $5 million. For a company with such a thin revenue stream, that loss cuts directly into near-term planning.

The Backstory Behind the Breakup

Marvell had only just closed its acquisition of Celestial AI in February. Shortly afterward, it moved to terminate all business with POET, citing a breach of confidentiality agreements. The alleged culprit: CFO Thomas Mika, who is said to have discussed the Celestial AI supply relationship publicly on platforms including Stocktwits and YouTube. Mika declined to comment on the specifics, offering only that he wished he could answer questions.

The timing has fueled speculation in retail trading circles. Many investors on Stocktwits remain defiantly bullish, suggesting Marvell may have used Mika’s comments as a convenient excuse to sever ties while building its own in-house photonics capabilities. Whether that theory holds water, the damage to POET’s credibility is already done.

A Two-Day Delay Raises Legal Questions

Adding to the company’s headaches, POET waited two days before disclosing the contract termination. During that window, 77 million shares changed hands. Market observers are flagging the risk of investor lawsuits over delayed ad-hoc disclosure, arguing that material information about the loss of a major customer should have been communicated immediately.

Short Sellers Circle

Wolfpack Research has piled on, disclosing a short position in POET and characterizing the recent rally as promotion-driven, fueled by paid YouTube advertising. The research firm also highlighted risks tied to the company’s status as a Passive Foreign Investment Company, which can carry adverse tax implications for U.S. shareholders.

Elsewhere in the sector, the mood was markedly different. Lumentum gained 4.1% on the same day, while Coherent rose 3.3% following its own quarterly results. Industry analysts warn that the Marvell-POET dispute could shine an uncomfortable spotlight on supply-chain concentration and confidentiality protocols across the AI infrastructure ecosystem.

What’s Next on the Calendar

POET will report first-quarter 2026 results on May 20 — the first official look at how the lost Marvell business is hitting the books. Management has so far remained silent on the fallout, but how it navigates the trust deficit with potential new partners may prove as critical as the numbers themselves.

On June 26, shareholders will vote on a proposal to redomicile the company to the United States. The board has recommended the move to reduce tax disadvantages for the company’s large U.S. investor base. In the meantime, the company is pointing to a recently announced order from another technology firm, also valued at around $5 million, as evidence that its optical networking business for data centers continues to move forward.

For a company that saw its market value double in the preceding week, the whiplash has been brutal. The coming weeks will test whether POET can rebuild trust — and whether its remaining pipeline is enough to sustain the narrative.