According to CoinMeta, based on early data from in, AAOI plans to conduct a $600 million market-value equity issuance, which led to a significant decline in the optical communications sector of the U.S. stock market. Among them, Roundhill's optical modules ETF ( LYTE ) fell by 7.3%, pure photonics ETF ( FOTO ) fell by 5.8%, Applied Optoelectronics ( AAOI ) fell by 17.47%, Corning ( GLW ) fell by 4.4%, Coherent ( COHR ) fell by 8.4%, Marvell Technologies ( MRVL ) fell by 6.9%, Lumentum Holdings ( LITE ) fell by 7.5%, and Ciena Corporation ( CIEN ) fell by 7.3%. On August 21, AAOI announced that it had signed agreements with Raymond James and Needham & Company to launch a maximum $600 million market-value issuance plan.