Bull of the Day: Lumentum (LITE)

Lumentum reported a beat-and-raise quarter on Feb 11 that initially pushed shares to new highs near $600; shares have since risen to roughly $800, an approximate +33% move from that prior peak. The strong quarter and raised outlook appear to have driven bullish investor positioning and continued technical momentum in the stock.

Analysis

Lumentum reported a beat-and-raise quarter on Feb 11 that initially pushed shares to new highs near $600; shares have since risen to roughly $800, an approximate +33% move from that prior peak. The strong quarter and raised outlook appear to have driven bullish investor positioning and continued technical momentum in the stock.