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
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