Why Coherent Stock Tanked by Nearly 20% on Thursday

Photonics company Coherent (COHR -19.52%) wasn't a bright light on the stock exchange Thursday. Despite delivering a second quarter that (slightly) beat analyst estimates, factors such as growth deceleration in a key business segment raised some concern. Slowing growth in a crucial customer demographic provided reason for the market to be concerned about recent results. With that, more than a few market players assertively sold out of the stock to leave it with a loss of almost 20% on the day. That compared ...