In this series, we take a look at the 25 stocks on the S&P 500 Index (SPX) that have turned in the worst performance during the past decade -- what went wrong, and what happens next.
Among telecom stocks that got smacked during the past decade, Ciena Corporation (NASDAQ: CIEN) took the hardest hit -- at least, among those companies that still exist in the same incarnation. Yes, that comment was directed at you, Alcatel-Lucent (NYSE: ALU).
Other telecom losers on our roster include Qwest Communications (NYSE: Q), JDS Uniphase (NASDAQ: JDSU), and Tellabs, Inc. (NASDAQ: TLAB) -- the latter of which also plays a key role in the forthcoming Ciena saga.
What went wrong? At number 3 on our list of SPX laggards, CIEN lost 90% of its value in the decade that ended June 30, 2008. The stock peaked at a split-adjusted $1,057 in October 2000, a zenith that marked the top of a steep ascent. The equity's ensuing plunge would be just as dramatic.
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