Coherent (COHR) stock slips after Nvidia’s $2 billion buy-in — what traders are watching now
Coherent Corp. shares dropped 3.5% to $288.44 midday Tuesday, reversing part of Monday’s 15.4% surge after Nvidia’s $2 billion investment and optics deal. Coherent sold nearly 7.8 million shares to Nvidia at $256.80 each in a private placement. The agreement includes a multibillion-dollar purchase commitment for advanced photonics products. Coherent will present at a Morgan Stanley conference later Tuesday.