Oclaro Revisits Lower End Of 2-Month Trading Range

Oclaro Inc. OCLR shares are trading lower by 71 cents at $9.19 in Wednesday's session. The provider of optical components is following suit with other issues in the sector that are deep in the red as well. For example, NeoPhotonics Corp NPTN shares are lower by 65 cents or nearly 8 percent at $7.71. Also, Applied Optoelectronics Inc AAOI shares are trading lower by $5.50 or 5 percent at $94.11.

After a lower open, it managed only a 3-cent bounce to $9.66 before continuing its move lower. So far, the stock has reached $8.96, but it has rebounded back into the $9 handle. That low comes under just under the lower end of the trading range from the $9 area to $10.50 area that has been in place since early June.