Lumentum stock drops 6% to $677; after-hours steadies as traders hunt the next catalyst
Lumentum shares fell 6.4% to $677 at Thursday’s close, then slipped to $676 after hours. The drop followed an 8.75% surge Wednesday. The stock’s price now exceeds most analyst targets, with the average one-year estimate at $565.29. Management met investors Thursday and is scheduled to present at a Morgan Stanley conference March 2.