Infinera Just Gave Investors 4 More Reasons to Buy Its Stock
Infinera's (NASDAQ: INFN) stock more than tripled over the past two years as the optical solutions company turned around its struggling business.
Infinera's products help carriers increase the bandwidth of their existing networks without laying down additional fiber. It generated most of its revenue from long-distance solutions back in 2018, but carriers at the time preferred to upgrade their shorter-range data center and metro networks instead.
Infinera addressed that imbalance by buying Coriant, which provided more shorter-distance technologies, in late 2018. However, Infinera initially overestimated Coriant's contribution to its top line, and its stock tumbled below $3 per share during the summer of 2019.
Source Fool.com
