54% Undervalued? Applied Optoelectronics (AAOI) Following Its $600 Million Equity Raise

Applied Optoelectronics (AAOI) recently took two significant steps that matter for shareholders. The firm raised about US$600 million through a follow on equity offering and also moved to block tokenized versions of its stock. Recent trading in Applied Optoelectronics has been volatile, with the share price down 9.75% over one day and 24.94% over the past week. The year-to-date share price return of 90.83% and 1-year total shareholder return of 121.35% point to strong momentum that has cooled...