Shares of Navitas Semiconductor Corp (NVTS) plummeted 7.61% in Friday's trading session, as investors reacted strongly to news of substantial insider selling by key executives and board members. The significant decline was primarily triggered by the revelation that the company's President and CEO, Eugene Sheridan, had offloaded approximately 2.16 million shares.

Adding to the negative sentiment, two other company directors, Gary Kent Wunderlich Jr. and David Moxam, also reported disposals of their common shares. Notably, David Moxam sold 714,199 shares at $6.5 per share earlier in the week, retaining only 78,649 shares after the transaction. The timing and scale of these insider sales, particularly the CEO's massive share disposal, have clearly unsettled the market and raised concerns among investors about the company's future prospects and current valuation.

While Navitas Semiconductor announced its participation in the upcoming Baird 2025 Global Consumer, Technology & Services Conference, where CEO Gene Sheridan is set to engage in a fireside chat, this positive news seems to have been overshadowed by the insider selling activity. As trading continues, market participants are likely to closely monitor any further developments or statements from the company regarding these significant insider sales and their potential implications for Navitas Semiconductor's outlook.