As an Anne Arundel County native, I have tracked the progress of Ciena from IPO on. I thought it was overpriced from the start, however, the company does have a nifty technology. With the fall from grace, I think the bad news out. Quoting a personal favorite, "Buy on the cannon. Sell on the trumpets." Despite the soft global economy, demand for bandwidth is going to increase. Ciena has a good product and a decent engineering team. I think it may drift lower, but either a takeover or some positive contract news will bump this into the 30s within a year. I also think some investors are waiting for a bottom. I'd rather buy a few dollars ahead of the trough and be sure to cash in. The only risk is the flakey management team (i.e. CEO) and some litigation . Overall, I think 13 is a reasonable risk for a short term (1 year) investment.
How come none of you could ever direct me to Rundelac Road.....you don't even know your area..... You are dependent on good industry because all you have are tourist trade......Ciena has superb engineering intelligence.....it is what has made your area aware of the future.....Ciena will lead you out of the shadows of the DC grey area. DC produces nothing but debt......Ciena gives you future.
It seems to me that you believe Cien will go up within a week. Everything sounds so good but why it still drop down to $13. I suspect that it has not reached the bottom, We don't see any stronger support at this price. The whole Telecom section is on downside. As I always say, don't put your emotion and dream on the real world, which is a reason you will lose money in the casino.