Why Ciena Sank Today
Shares of (NYSE: CIEN) plummeted 18.6% on Thursday as of 1:05 p.m. EDT.
As a leader in optical networking hardware and software platforms, Ciena's share price has skyrocketed with the advent of generative AI and the associated infrastructure build-out. The stock, even with today's sell-off, is up a whopping 271% over the past year alone.
That may be why Ciena's fiscal first-quarter earnings report, which showed both a strong revenue and earnings beat, didn't lead to a positive outcome for the stock.
Source Fool.com
Ciena Corp. Stock
€296.30
1.610%
The stock is one of the favorites of our community with 38 Buy predictions and 3 Sell predictions.
As a result the target price of 305 € shows a slightly positive potential of 2.94% compared to the current price of 296.3 € for Ciena Corp..
