Nasdaq Growth Stocks Hit 52-Week Highs, Plunge 10% in One Day

VIAVI Solutions Inc. (NASDAQ: VIAV) shares plunged 10.47% on March 30, closing at $31.01 on the Nasdaq. The company’s market capitalization fell to about $7.18 billion (roughly KRW 9 trillion), erasing nearly $680 million (about KRW 900 billion) in value in a single day. Trading volume reached roughly 5.41 million shares, signaling significant short-term profit taking.

Just six days earlier, on March 24, VIAVI hit a 52-week high of $35.63, and Needham had raised its price target to $36 earlier this month, reflecting ongoing bullish sentiment. In mid-March, following the launch of new cybersecurity products, the stock surged into the mid-$30 range amid heightened volatility. Three days ago, Vanguard filed an amended Schedule 13G reporting zero holdings in VIAVI common stock due to an internal reporting change, sparking speculation about the company’s shareholding structure.

VIAVI Solutions is a U.S. network-testing specialist that supplies fiber-optic test and measurement equipment, as well as network performance and security testing solutions, to telecom operators, data centers and cloud providers. The company is widely viewed as a beneficiary of 5G and next-generation 6G infrastructure investment. In 2025, VIAVI expanded its portfolio by acquiring high-speed Ethernet and network security test assets from Keysight Technologies. After its fiscal 2026 first-quarter results beat market expectations, the stock has climbed more than 180% over the past year—and today’s trading indicates it has re-entered a volatile range.