Ciena stock tumbles 14% as AI-networking names retreat — what investors watch next
Ciena shares fell 14% to $222.73 Thursday after an early spike to $260, with about 2.8 million shares traded by early afternoon. Lumentum dropped 11% and Coherent 9% as tech stocks slid ahead of Friday’s U.S. jobs report. CEO Gary Smith sold 83,552 shares on Jan. 5 at an average $229.44. Ciena will present at the Needham Growth Conference on Jan. 13.