CIEN Stock Spiked: Here's What Happened

12/8/2022

The Situation

Ciena Corporation (NYSE: CIEN) shares – an American telecommunications networking equipment and software services supplier – spiked on Friday after Q4 sales beat estimates. As of 1:00 PM ET, Ciena shares rose by 19.76%.

The Explanation

Ciena Corporation officially went public in February 1997, reaching its all-time high price of $1,046.50 on October 2000. As of press time, the company's stock price is $51.78, down by 33.12% year-to-date.

The company announced an adjusted $0.61 earnings per share compared to the initial estimates of $0.08 this quarter. Despite beating estimates, the $57.65 million in earnings is almost half its $103.50 million earnings in Q4 last year.

See the $CIEN chart performance here.

The Effect

Ciena stock reported gains over the analysts' expectations. The investors' reactions happened amid the company outperforming initial expectations. Since investors can't know if the company can reach its optimistic "outsized" revenue growth in 2023, it is more important to focus on Cien's business.

See full $CIEN flow at: https://unusualwhales.com/stock/CIEN/flow-overview

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The Blubber

The Situation

The Explanation

The Effect

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