On October 22, Applied Optoelectronics fell 6.73% in Regular Trading, trading at $71.5 per share, with turnover of $112 million.
The move was accompanied by another broad selloff in optical communications stocks, which directly weighed on Applied Optoelectronics.
Recent market updates showed the group weakening again on October 22, with Lumentum down 4.90% to 6.49%, Ciena down 4.52% to 5.54%, Arista Networks down 3.39% to 3.46%, Cisco down 1.10% to 1.46%, and Nokia down 1.07% to 9.52%. In addition, B. Riley previously cut its price target on Applied Optoelectronics to $92 from $109 while maintaining a Neutral rating, and the options market recently saw sizeable longer-dated put activity, including a $3.62 million put position tied to a $50 strike expiring in 2027, reinforcing bearish sentiment alongside sector pressure.
(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.)
Comments