NEW YORK, Dec. 28, 2025, 3:56 a.m. ET — Market closed

Applied Optoelectronics, Inc. (NASDAQ: AAOI) enters the final trading days of 2025 with a familiar calling card: volatility. The fiber-optics supplier finished Friday’s session at $37.17, down 9.34% on the day, after trading as high as $41.38 and as low as $37.03. Volume came in around 3.83 million shares, marking an abrupt reversal after a powerful run that recently pushed the stock toward fresh highs.

With U.S. stock markets closed for the weekend, investors now have a full news cycle to digest what’s driving the recent whipsaw in AAOI—and what may matter most when trading resumes Monday morning.

The broader market backdrop: thin, post-holiday trading

AAOI’s Friday pullback…