Why Is Ciena Stock Surging on Wednesday?
Ciena Corporation (NYSE: CIEN) stock is surging on Wednesday as fiber optic connectivity companies move higher following strong Q4 earnings from Lumentum Holdings Inc. (NASDAQ: LITE).
Lumentum, a company that makes fiber optic parts, reported really good earnings, so people got excited about the whole industry—including Ciena, which makes similar equipment. When one company in a group does well, people often think others in that group might do well too.
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