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%.