Why Ciena Stock Stumbled Today
(NYSE: CIEN) had a tough Monday on the stock exchange. The company is going to the investor well to borrow a significant amount of capital, and investors expressed their displeasure by trading out of the stock. This left it with a more than 4% decline that trading session.
Ciena announced early that morning that it was floating a $2 billion issue of senior convertible notes in a private offering. The company added that it intends to grant the initial purchasers of those notes -- which, if not converted, will mature on Sept. 15, 2031 -- a 13-day option to collectively buy up to an additional $300 million worth of the securities.
Image source: Getty Images.
Source Fool.com
Ciena Corp. Aktie
324,30 €
-0,80 %
Die Ciena Corp. Aktie genießt hohe Beliebtheit: Mehr Buy- (46) als Sell-Einschätzungen (1).
Für Ciena Corp. sieht die Community ein leicht positives Kursziel von 370 €, verglichen mit dem aktuellen Kurs von 324.3 €.
