Applied Optoelectronics Blasts To New All-Time High After Raised Guidance

Applied Optoelectronics Inc AAOI shares are trading higher by $6.11 (8.40 percent) at $78.75 in Thursday's session. The catalyst for the rally is the announcement by the company that it will exceed both top- and bottom-line results when it reports after the close on August 3.

In volatile trading, it sprinted to $77.70 off the open then had a quick decline to $74.01 before resuming its move higher. At this time, it has come all the way back to make a new high for the day at $78.64 as of 11:25 a.m.

It will easily post a new all-time closing high, as the previous one was made Wednesday at $72.64.