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
€388.30
8.030%
The stock is one of the favorites of our community with 39 Buy predictions and 3 Sell predictions.
However, we have a potential of -55.45% for Ciena Corp. as the target price of 173 € is below the current price of 388.3 €.
