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
326,90 €
2,36 %
Klares Buy-Übergewicht bei der Ciena Corp. Aktie mit 46 zu 1 Einschätzungen.
Ein positives Kurspotenzial für Ciena Corp. ist gegeben, mit einem Kursziel von 370 € über dem aktuellen Kurs von 326.9 €.
