From Alphastreet - Earnings Decoded. Market Intelligence Delivered · AlphaStreet Newsdesk · · 50s
Lumentum Holdings Drops 7.1% Amid Sector-Wide Selling
Lumentum Holdings plunges 7.1% as communication equipment stocks fall together.
In brief
Lumentum Holdings plunges 7.1% as communication equipment stocks fall together. Lumentum Holdings dropped 7.1% Thursday amid sector-wide selling pressure from communication equipment stocks. Originally reported by Alphastreet - Earnings Decoded. Market Intelligence Delivered.
Lumentum Holdings Plunges
Lumentum Holdings Inc. plunged 7.1% on Thursday as a sector-wide selloff dragged down communication equipment stocks across the board.
Stock Closes at $1031.69
The stock closed at $1031.69 with volume surging to 3.3M shares as investors fled the sector amid broad-based weakness in peer companies.
Sector Peers Decline
Three of Lumentum’s sector peers posted sharp declines: CIEN dropped 3.2%, VIAV fell 4.2%, and VSAT slid 5.6%.
What to Watch Next
Investors should monitor whether sector peers continue to decline in tandem or if Lumentum begins to decouple from the group.
At a glance
Lumentum Holdings dropped 7.1% Thursday amid sector-wide selling pressure from communication equipment stocks.
