COHH is trading at $8.02, down 3.84% in pre-market action as the leveraged ETF sees a modest pullback following a rapid multi-day surge in AI-optics exposure.
- The decline appears to be driven by profit-taking rather than a negative fundamental shift, as broader U.S. indices continue to trade near record highs.
- AI hardware and semiconductor names remain a key driver of recent market gains, suggesting continued underlying strength in the sector despite the technical correction.
- The move follows a period of significant outperformance for Coherent (COHR) and related optics components used in AI infrastructure.