Investors pummeled shares of Ciena (NasdaqGS: CIEN) in Wednesday’s premarket, pushing the stock lower by 13% after the provider of optical networking equipment was out with a disappointing outlook.

Ciena announced fiscal-second quarter results that missed analyst expectations.

The stock is a nearly 3% holding in iShares S&P North American Technology-Multimedia Networking (NYSEArca: IGN).

The ETF is down 11.6% over the past three months, according to Morningstar. It is trading close to its 200-day exponential moving average.

iShares S&P North American Technology-Multimedia Networking

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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