Don't Chase Acacia Communications' Latest Rally [The Motley Fool]
ACACIA COMMUNICATIONS (ACIA)
Last acacia communications earnings: 2/18 04:01 pm
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US:NASDAQ Investor Relations:
ir.acacia-inc.com/investor-overview
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Source: The Motley Fool
It’s unlikely that the Commerce Department will completely reverse the ZTE ban. Shares of Acacia Communications ( NASDAQ:ACIA ) rallied 9% on May 14 after President Trump announced that he was working together with President Xi to give ZTE ( NASDAQOTH:ZTCOY ) -- the second largest telecom equipment maker in China -- a way to get back into business. In April, the US Commerce Department banned American companies from selling components to ZTE for seven years after ZTE violated trade sanctions by shipping products with US components to Iran and North Korea. The ban crippled Acacia, which generated 30% of its sales from ZTE in 2017, and its stock plunged from $40 to the mid-$20s in a single day . Image source: Getty Images. The stock has since rebounded to the low $30s, and Trump's announcement indicates that rosier days could be ahead for Acacia. However, I think this temporary rally could be a better selling opportunity than a buying one, for four simple
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