Lumentum stock slides 8% as optics peers stumble; investors eye February earnings update
Lumentum Holdings shares dropped 7.6% to $356.69 Monday afternoon, leading declines among optical networking stocks as Coherent, Ciena, and Applied Optoelectronics also fell. The selloff followed a sharp rally that brought Lumentum near its December peak, with trading volume at 4.9 million shares by 3:24 p.m. EST. Investors are watching upcoming earnings and industry events for signs of continued AI-driven demand.