POET Technologies: The Frenzy Behind a 111% Weekly Surge

POET Technologies stock skyrockets 111% weekly on Marvell order and speculative Amazon warrant theory, fueling a short squeeze and retail frenzy.

The numbers are staggering. A stock that more than doubled in a single week. A short-seller attack that backfired spectacularly. And a speculative narrative involving Amazon that has no hard evidence — yet sent retail traders into a buying frenzy. Welcome to the wild world of POET Technologies.

The Canadian photonics specialist closed Friday at €12.86, a fresh 52-week high that caps a weekly gain of 111%. Over the past year, the stock has surged roughly 259%. The distance from its 50-day moving average now stands at nearly 120% — a technical outlier that screams overextension.

The Marvell Connection That Started It All

The rally has a concrete foundation, however thin. POET has been supplying so-called Blazar light sources to Celestial AI, a photonics company focused on artificial intelligence, since 2022. When Marvell Technology acquired Celestial AI in December for $3.25 billion, POET inherited a new — and far more prominent — customer.

Chief Financial Officer Thomas Mika confirmed that POET has received an order from Marvell, with initial deliveries expected in the current quarter. Marvell itself has not publicly acknowledged the order, leaving a significant risk factor hanging over the story.

That hasn't stopped the bulls from running wild. Market observers are already speculating about follow-on orders from Nvidia, whose networking hardware supply chain overlaps with Marvell's.

The Amazon Warrant Theory

By Friday, the narrative had taken a more speculative turn. On Stocktwits, retail traders began circulating a theory that Amazon could indirectly benefit from POET's technology. The logic is convoluted but compelling to momentum traders: Amazon holds warrants on Marvell shares, issued as part of the Celestial AI acquisition. Those warrants are tied to Amazon's purchases of photonic components through 2030.

Marvell supplies major hyperscalers — including Amazon Web Services — and Nvidia with networking and storage hardware. POET shareholders are now betting that those same customers will eventually demand POET's technology. There is zero evidence to support this thesis, but in a market driven by narrative, that hasn't mattered.

Short Squeeze Adds Fuel

The price action has a mechanical component that amplifies the story. Short interest had climbed to 13.14 million shares, representing roughly 8.6% of the float. When the stock began to rally, short sellers were forced to cover, buying into strength and accelerating the move.

The options market reflected the frenzy. On Thursday alone, roughly 129,000 contracts changed hands. The put-call ratio stood at 0.29, meaning calls dominated by a wide margin. Wolfpack Research, the short-seller that launched an attack on POET, saw its thesis backfire as the stock ripped higher.

The Short-Seller's Warning

Wolfpack's central allegation involves a potential tax nightmare for U.S. shareholders. The firm warned that POET could be classified as a passive foreign investment company, which would subject American investors to punitive tax treatment.

Management has pushed back hard. Mika is planning a radical solution: moving POET's headquarters to the United States. Shareholders will vote on the relocation in June. If approved, the tax risk would disappear permanently. Until then, it remains the short-sellers' strongest argument.

The Fundamental Reality Check

Behind the speculative frenzy sits a company in its earliest commercial phase. In the fourth quarter, POET generated roughly $341,000 in revenue — up from just $29,000 a year earlier, but still minuscule. The loss per share improved to -$0.32.

The valuation gap is enormous. The price-to-sales ratio stands at an eye-watering 1,358. That is not a multiple; it is a bet on a future that has not yet arrived.

On the positive side, POET's balance sheet is well-funded. The company reports $430 million in cash, which it is deploying to build production capacity in Malaysia. The long-term addressable market is projected to exceed $33 billion over the next decade. As a first step, POET plans to deliver more than 30,000 optical engines in 2026.

The company is still awaiting orders from Foxconn and Luxshare, two major potential customers that have not yet committed. POET's own risk disclosures acknowledge that products could miss performance targets, customers could defect, or tax issues could arise from the planned relocation.

What Comes Next

The June shareholder vote on the headquarters move is the next major catalyst. A positive outcome would remove the short-sellers' primary argument. A negative one would validate their worst fears.

For now, the stock trades on a cocktail of confirmed orders, speculative narratives, and mechanical short covering. The gap between current revenue and investor expectations is enormous. Anyone buying here is betting on a supply chain that remains, for the most part, a promise.