What Caught Our Attention in the Investment World? – Week of August 31 – September 4, 2020

By Kuldip K. Ambastha

On Thursday, September 3, 2020, Ciena Corporation (CIEN) had a return of -24.3%. For its most recent fiscal quarter, the technology (tech) company surpassed its profit and revenue expectations, but also announced that in the next few quarters going forward it was expecting a slowdown in orders due to the coronavirus pandemic. On September 3, the company’s stock saw its biggest intraday decline since August 2001 (when many tech stocks were struggling, due to the tech bubble bursting). The company has many clients in the transportation, hospitality, and dining sectors. Since these sectors are struggling, their orders for the offerings of Ciena Corporation will be lessened, going forward.

Keywords – Ciena Corporation, Ciena, CIEN, technology, tech, profit, revenue, orders, slowdown, COVID-19, coronavirus, pandemic.

Disclosure – The principals and clients of Ambastha Financial LLC do not have any positions in CIEN.

Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2020 – Ambastha Financial LLC.

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