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home / news releases / UI - Why Ciena Soared And Then Slumped After Q2 2024 Earnings

UI - Why Ciena Soared And Then Slumped After Q2 2024 Earnings

Ubiquiti Inc

2024-06-10 09:22:42 ET

Summary

  • Ciena's stock responded positively after posting Q2 2024 results, with shares spiking to $55.77, but then closed lower last week.
  • Q2 revenue declined by 19.4% YoY to $910.8 million, causing concern among investors.
  • Ciena is optimistic about future growth opportunities, particularly in the AI and cloud space, but risks remain due to telecom customer spending levels.
  • CIEN Stock rating discussed.

After Ciena ( CIEN ) posted second quarter 2024 results, the stock responded positively. CIEN shares spiked to $55.77 on June 6, 2024, up from around $48 the previous day. Sellers pounced on the stock throughout the day. By the end of the last week, Ciena shares closed at $45.75....

For further details see:

Why Ciena Soared And Then Slumped After Q2 2024 Earnings
Stock Information
Company Name: Ubiquiti Inc
Stock Symbol: UI
Market: NYSE
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