Sivers Semiconductors: Board Pauses Bonus Plan as 3,200% Rally Draws Hedge Fund Exit and Insider Investigation

New board delays employee bonus program for review as Sivers stock surges 96% in a month, while insider trading probe and investor exit cloud outlook.

Sivers Semiconductors' freshly installed board has pulled the planned employee bonus program from the agenda of its latest shareholder meeting, opting instead for a thorough review of the existing compensation framework before putting forward a new proposal. The move signals caution from the new directors, who want to ensure that any future incentives align more closely with strategic objectives as the company rides a wave of extreme stock price volatility.

That volatility has been nothing short of breathtaking. The share price, which traded at just €0.27 as recently as March, closed at €8.99 on Wednesday — a gain of nearly 6% on the session alone. Over the past 30 days, the stock has more than doubled, and the monthly chart shows a near-uninterrupted ascent. The 50-day moving average currently sits at €5.03, leaving the stock trading well above that technical level. The relative strength index stands at 63, indicating continued upward momentum without yet tipping into overbought territory.

But the rally has already prompted one prominent investor to cash out. Nordic hedge fund Atlant Edge disposed of its entire position after entering via a direct placement at 14.50 Swedish kronor per share in the spring. By late May, the stock had surged to nearly 69 kronor, and portfolio manager Nikos Georgelis locked in an 18% return, describing the investment as purely opportunistic. He noted that the scale of the rally far exceeded the fund’s expectations and that a long-term holding strategy was never part of the plan.

Behind the price explosion lies a mix of catalysts and complications. In late May, Sivers secured $6.6 million in funding from the Pentagon under the CHIPS Act, fueling initial euphoria. However, the company subsequently had to restate its prior-year financials, pushing the net loss to 222.6 million Swedish kronor. Adding to the uncertainty, Sweden’s Economic Crime Authority has launched an investigation into possible insider trading ahead of a planned Nasdaq listing.

The stock closed at €8.50 on Tuesday, leaving it with a monthly gain of roughly 96% and a 75% premium over its 50-day average. The retreat of institutional investors such as Atlant Edge threatens to erode confidence, while the ongoing probe keeps fundamental risk elevated. Sivers' annual high of €10.23 — set during the recent frenzy — now looks distant unless the new board can demonstrate that future orders can justify the current valuation.