Ciena is trading 7.6% down at $362.28 as investors continue to rotate out of expensive AI and networking infrastructure names following a sharp multi-day slide.
- The decline extends recent weakness after the stock fell 4.1% on July 24 during a valuation-driven reset in high-beta optical and networking shares.
- There is no new company-specific news today, with the move attributed to broader pressure across the technology sector as valuations are recalibrated.