Coherent Corp. (COHR) shares plummeted 9.27% during intraday trading on Monday, as the optical communications sector gave back some of its massive gains from the prior week.

The stock had surged over 44% the previous week, driven by a confluence of positive catalysts, including the launch of the Roundhill Optical Communications ETF, the FCC's proposed ban on imports of Chinese optical transceiver modules, and strong earnings growth expectations. The sharp rally prompted profit-taking on Monday, with optical names broadly declining. Coherent led the drop, falling nearly 8% in early trading, while peers Lumentum, Ciena, Fabrinet, and others also saw notable declines.

The sell-off comes despite continued optimism around the sector's long-term prospects, suggesting that the pullback may be a natural correction following the stock's explosive upward move.