Sivers Semiconductors: A 2,100% Surge, a 15% Plunge, and an Earnings Report That Could Decide the Next Move

Sivers Semiconductors shares plummet 15% as 2,100% rally stalls. Investors await Q1 earnings amid social media hype, short seller skepticism, and index inclusion catalysts.

The breathtaking six-month rally that sent Sivers Semiconductors skyrocketing more than 2,100% hit a wall this week. On Tuesday, the shares crashed 15.49% to 73.40 Swedish kronor, wiping billions in market value and setting the stage for a make-or-break earnings release just days later. When the Swedish chip and photonics specialist reports first-quarter results on Friday, May 29, investors will be looking for hard evidence that the hype has substance.

The selloff cut the company’s market capitalization from around 23.5 billion SEK to roughly 21.9 billion SEK — still an enormous premium for a business that has yet to turn a profit. The trigger? A mix of profit-taking and growing anxiety that the stock’s meteoric rise, fueled in part by social media enthusiasm, may have outpaced the fundamentals.

A single X account named “Serenity” — the same profile that ignited a 77% rally in French chipmaker X-Fab earlier this year — had recommended Sivers, drawing a wave of retail buyers. Such endorsements can supercharge short-term momentum, but they also leave stocks vulnerable to sharp reversals when the narrative shifts.

That shift could come Friday. Analysts expect Sivers to post a first-quarter loss of 0.10 SEK per share, an improvement from the minus 0.19 SEK recorded a year earlier. Revenue is forecast at 74.0 million SEK — a roughly 6% decline from the prior-year quarter’s 78.5 million SEK, a warning sign that the top line is not yet accelerating.

For the full year, the market consensus calls for a loss of 0.34 SEK per share on revenue of roughly 360 million SEK, up from 306.6 million SEK in 2025. That would mark progress but still leave the company deep in the red relative to its massive valuation.

Short sellers remain a persistent presence. As of May 27, total short interest stood at 7.23% of capital. While Anson Advisors and Anson Funds Management have each trimmed their positions below the 0.5% reporting threshold, a new bear has emerged: Voleon Capital Management disclosed a 0.53% short position on May 5. The continued skepticism suggests many professional investors doubt the stock can sustain its current altitude without a material revenue surge.

Management is betting on a series of strategic moves to bridge the gap. Sivers is scaling up high-volume production of external light sources for data-communications applications, with partnerships at Ayar Labs, POET, and Jabil to accelerate that transition. The company is also preparing a dual listing in the United States; its 2025 annual report already includes restated prior-year figures and two newly nominated board members — steps often taken ahead of a Nasdaq filing.

On the technical front, a fresh catalyst arrives just after earnings. At the start of trading on Monday, June 1, Sivers will be added to the OMX Stockholm Benchmark Index and is also slated for inclusion in MSCI’s Global Small Cap indices. Index-tracking funds will need to adjust their portfolios, potentially generating short-term buying pressure and higher trading volumes.

The next 48 hours are unusually dense. First comes the quarterly report, then the index reshuffling. If Sivers delivers a clear confirmation of its growth trajectory on Friday, the index-driven demand could provide additional lift. But if the numbers fail to impress — especially on revenue — the 15% drop may prove to be only the first chapter of a larger repricing.