Why Lumentum Stock Plummeted While Coherent Stock Skyrocketed Today

Evan Niu, CFA, The Motley Fool
·2-min read
Why Lumentum Stock Plummeted While Coherent Stock Skyrocketed Today

Shares of Lumentum (NASDAQ: LITE) have plummeted while shares of Coherent (NASDAQ: COHR) have skyrocketed today after the companies announced that Lumentum would acquire Coherent. Lumentum also announced preliminary results for its fiscal second quarter of 2021. As of 12:30 p.m. EST, Lumentum stock was down 11% while coherent stock was up 32%.