POET

POET Technologies is selling off in pre-market trading as investors weigh the company's first-quarter 2026 financial results against a wave of negative sentiment surrounding a newly filed class action lawsuit. While the company announced significant strategic partnerships and a major purchase order with Lumilens, the market appears to be reacting to the legal uncertainty regarding alleged misrepresentations of the company's tax status as a passive foreign investment company. This pullback follows a period of extreme volatility, including a 43.1% surge in the previous regular session, suggesting that traders are taking profits and recalibrating their positions in light of the mounting legal challenges.