Stock Track | CIG Plummets 8.30% in Afternoon Session Amid Optical Communication Sector Sell-Off Triggered by Earnings Disappointments

Stock Track05-15

CIG's stock price plummeted 8.30% during the afternoon trading session on Friday, as the optical communication concept stock faced significant selling pressure.

The decline was part of a broader sector-wide sell-off. A recent UBS research report highlighted that YOFC's first-quarter net profit fell short of market expectations, anticipating a negative short-term market reaction. Additionally, optical module giant Lumentum reported revenue slightly below analyst consensus expectations. These earnings disappointments, combined with the sector's high valuations and substantial year-to-date gains, triggered profit-taking among investors, leading to the sharp decline in related stocks including CIG.

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