POET Technologies Doubles in One Week on New Orders, but Revenue Is Just $1 Million
NEW YORK, April 26 —
POET Technologies (POET) surged 120.5% in a single week, hitting an 11-year high on new supply and order deals.
- Stock gained 120.5% over the past week, including a 28.8% rally on Friday alone, closing at $15.1
- Forward P/E is literally infinite. TTM revenue is $1mn. This is a pre-revenue valuation on a company that's been public for over a decade.
- Watch for: customer identity, deal revenue size, and next quarterly earnings to confirm whether these orders translate to a real backlog
What Actually Happened
POET makes optical interposers, chips that integrate electronics and photonics on a single platform. The technology matters because data centers are running into bandwidth bottlenecks where electrical signals meet fiber optics. POET's approach eliminates some of the packaging steps that make traditional optical modules expensive.
The new supply and order announcements gave the market something it hadn't had before: commercial validation from actual customers willing to place orders. For a company that has spent years in the "promising technology, no revenue" category, that's a meaningful inflection point. The stock reacted like it was a binary event, because for POET, it basically was.
The 28.8% Friday move suggests institutional buyers were still piling in at the end of the week, not just retail momentum chasers covering into the close.
The Catch
A company doing $1mn in trailing twelve-month revenue just doubled in a week. Read that again. The forward P/E is infinite because analysts don't have enough earnings visibility to model one. Jim Cramer said he's "not ready to recommend chasing" at these levels, and while Cramer's track record is its own discussion, the instinct is right.
POET has been public for over a decade and is only now generating its first meaningful orders. The optical interconnect space is competitive. Broadcom, Marvell, and Coherent all play here with actual revenue at scale. Supply deal announcements without disclosed dollar values are the corporate equivalent of "trust me." Until POET reports a quarter with real order backlog numbers, the stock price is a napkin sketch of what the company might become.
Bottom Line
The technology story is real. Data center optical interconnects are a genuine growth market, and POET's interposer approach has theoretical cost advantages. But 120% in a week prices in a lot of theoretical advantage. This is a stock for investors who size positions knowing they could give back half the move on a single disappointing earnings call. The number to watch is simple: quarterly revenue. When it goes from $1mn trailing to something with a second digit, the thesis starts to work. Until then, it's a trade, not an investment.
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