Coherent jumped 6% and Lumentum climbed 5% with no catalyst, driven by short covering after both stocks fell sharply over the prior month.
SOXX gained only 2% and SPY just 0.3%, making the optics group's surge a positioning-only bounce confined to the sector, not a broad re-rating.
Just released. Our ******* ysts combed the entire stock market and named the ten best stocks to buy right now, and Coherent didn't make the cut. Enter your email to see the names that beat COHR. The report is free. Enter your email and see if any of your stocks made the cut.
Optics stocks are rebounding Wednesday morning without a fresh headline to point to, and the size of the group's move relative to the broader market is the story. The iShares Semiconductor ETF (NASDAQ:SOXX) is at $508.59, up 2%, while the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is at $759.69, up just 0.3%. The three optics names running today are outpacing both benchmarks by a wide margin.
Coherent Corp. (NYSE:COHR) stock is up 6% to $287.21 in Wednesday morning trading. The bounce arrives after a rough stretch. Coherent shares had fallen 12% over the past month heading into today's session, and that drawdown is the part of the setup that hasn't been undone.
#optics
SOXX gained only 2% and SPY just 0.3%, making the optics group's surge a positioning-only bounce confined to the sector, not a broad re-rating.
Just released. Our ******* ysts combed the entire stock market and named the ten best stocks to buy right now, and Coherent didn't make the cut. Enter your email to see the names that beat COHR. The report is free. Enter your email and see if any of your stocks made the cut.
Optics stocks are rebounding Wednesday morning without a fresh headline to point to, and the size of the group's move relative to the broader market is the story. The iShares Semiconductor ETF (NASDAQ:SOXX) is at $508.59, up 2%, while the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is at $759.69, up just 0.3%. The three optics names running today are outpacing both benchmarks by a wide margin.
Coherent Corp. (NYSE:COHR) stock is up 6% to $287.21 in Wednesday morning trading. The bounce arrives after a rough stretch. Coherent shares had fallen 12% over the past month heading into today's session, and that drawdown is the part of the setup that hasn't been undone.
#optics
3 days ago
