A potential development on the trade front and positive news about the chipmaker's work with an important client put some real zip in its shares.

Navitas Semiconductor ( NVTS 20.78% ) stock did exceedingly well on Monday, even among the many companies having a notable commercial relationship with China. Not only did the company's stock benefit from President Trump's bullish pronouncement on said relationship, it also announced some news regarding its work for a top name in the chip sector.

With these tailwinds at its back, Navitas' share price ballooned by more than 21% across that day's trading session.

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