On June 4, COHERENT fell 4.18% overnight, trading at $398.98/share, with trading volume of $4,789.29.
On the news front, the stock had previously surged over 17% on June 2, reaching a 52-week high of $426.89, catalyzed by NVIDIA's announced $20 billion strategic investment in Coherent for photonics technology R&D and U.S. domestic manufacturing expansion, alongside a broad rally in the optical communication sector. Following the sharp consecutive gains, profit-taking pressure has intensified. The stock already pulled back 3.19% intraday on June 3, followed by an additional 3.22% decline in after-hours trading to $403.99, with the current overnight session extending the correction.
From a fundamental perspective, the multi-year strategic agreement with NVIDIA to secure optical sources, optical components, and silicon photonics capacity remains in execution. The 1.6T optical transceiver market demand continues to surge, and the company has raised its small form-factor pluggable optical module shipment target to 5 million units.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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