Infinera was down today along with a lot of the optical component suppliers fell just as much or more, along with the system providers that compete directly with Infinera. There seems to have been an industry sell off on certain tech stocks for some reason or another and I had been trying to find a reason on why.
One rationalization I had is it may have been related to the Netflix sell off. Many ETFs and other funds may have had to sell a bunch of other stocks along with their Netflix stake as people exited their ETFs, and this would explain a broader decline in the NASDAQ for similar “cloud” stocks.
Other than that I can’t find any other news for the categorical sell off. Google and Amazon were also down.
Does anyone else have an idea?
Best,
–Kevin