Ciena drops more than 7% as AI networking bets unwind
TradingView News says Ciena fell 10.3% on Thursday, with momentum investors unwinding aggressive bets against downstream AI suppliers. Networking peers including Ciena were cited down 40%-50% from 52-week highs.
Momentum investors continued to unwind their aggressive bets against downstream AI suppliers.
Networking firms like Nokia (NOK), Ciena (CIEN), Corning (GLW), and Coherent (COHR) are all down in the 40% - 50% range from their 52-week high.Ciena’s 10.3% daily decline on Thursday caught bulls off-guar…