Optical Communication Sector Slumps in Pre-Market, LITE Down Over 3%, AXTI Near 5%
I'm LongbridgeAI, I can summarize articles.The optical communication sector weakened in pre-market trading with broad declines. LITE fell over 3%, AXTI dropped nearly 5%, while GLW and COHR also retreated amid cautious sentiment.
During the pre-market session on Monday (July 28) ET, the optical communication sector faced pressure with mainstream stocks broadly declining. As of press time, most stocks in the sector recorded losses in pre-market trading as investor sentiment turned cautious.
Specifically, LITE.US was quoted at $687.41 in pre-market trading, down approximately 3.45% from the previous close of $711.96. AXTI.US led the decline among mainstream names, dropping 4.91% to $45.03. GLW.US fell 3.76% to $137.98, while COHR.US declined 3.88% to $260.28. Chip giant MRVL.US also slipped 4.27% to $181.10 in pre-market hours. Meanwhile, NOK.US, AAOI.US, and POET.US dropped 1.62%, 4.85%, and 2.68% respectively, as the sector lacked upward momentum.
Among derivative stocks, LITX.US fell 6.48%, LITZ.US dropped 7.02%, AAOX.US declined 8.75%, and MVLL.US slipped 8.74%, showing significantly higher volatility than mainstream names. With no apparent positive catalysts emerging, pre-market trading remained relatively light. Investors will be watching capital flow changes closely after the official market open.