Jane Street Builds a 6.8% Stake in POET Technologies as Legal and Tax Issues Cloud the Outlook
23.06.2026 - 18:16:59 | boerse-global.de
Trading firm Jane Street Group has quietly amassed a position of nearly 11.7 million shares in AI-chip specialist POET Technologies, equivalent to 6.8% of the company’s outstanding stock. The disclosure comes on the same day the shares suffered a sharp 9.4% decline, closing at €9.64 — a level that now sits below the 50-day moving average of €10.23, a technical warning sign for momentum traders.
The stock’s recent slide fits a broader pattern of extreme swings. POET’s annualized 30-day volatility stands at 186%, and the shares have nearly halved since hitting a 52-week high of €18.84 in mid-May. The relative strength index of 44.7 suggests the sell-off has not yet reached oversold territory, leaving the door open for further weakness. A sector-wide rotation away from technology into financial and industrial names, driven by uncertainty over central bank decisions, has added to the pressure.
Behind the market noise, a legal storm is gathering. Investors have until June 29 to apply for lead plaintiff status in a proposed class-action lawsuit against the company. The suit alleges mismanagement misled shareholders about POET’s tax classification as a Passive Foreign Investment Company (PFIC), a status that can trigger onerous US reporting requirements and tax liabilities. Chief Financial Officer Thomas Mika is also accused of breaching confidentiality by disclosing sensitive business details in a public interview, an episode that contributed to Marvell Semiconductor abruptly canceling all orders for Celestial AI in April — a blow that sent the stock into a tailspin.
Should investors sell immediately? Or is it worth buying POET Technologies?
POET has tried to offset the operational turbulence with a $400 million capital raise in May, proceeds earmarked for expanding production of optical chips used in AI data centers. The financing, however, has diluted existing shareholders, and the company’s volatility remains extreme at an annualized rate of 185%. Despite the recent decline, the stock is still up roughly 61% year to date, reflecting the market’s continued appetite for AI-related plays.
The next few days will be pivotal. A virtual shareholder meeting scheduled for late June will include a vote on relocating the corporate domicile from Canada to the United States — a move management says would automatically resolve the PFIC issue and make the shares more attractive to institutional funds. The timing is tight: the meeting falls just one day before the class-action lead plaintiff deadline on June 29. With Jane Street now among a growing roster of institutional names that also includes Susquehanna and Citadel, the outcome of both events could determine whether the stock stages a recovery or sinks deeper into legal and operational uncertainty.
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POET Technologies Stock: New Analysis - 23 June
Fresh POET Technologies information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
