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Grabbed $AXTI at $18 on the dip yesterday. The pullback looks like pure retail fear—Q4 revenue shifting into Q1 due to permit holdups. What's really driving this? InP substrate supply is incredibly constrained right now. Spot market pricing climbed 15% just since the new year kicked off. And here's the thing: $AXTI sits at the exact chokepoint in that supply chain. You've got institutional buyers watching this closely, but retail got spooked by the timing delays. Classic market psychology when bottleneck situations hit.