AAOG is trading at $2.80, down 7.59%, as optical-sector weakness creates a direct headwind for its reported 2x daily exposure to Applied Optoelectronics. - Applied Optoelectronics and AXT were among optical communications names under pressure, with declines also reported across Ciena, Nokia, Coherent, and Lumentum. - Higher Treasury yields and oil prices weighed on markets Wednesday; Thursday pre-market futures were lower. This likely adds pressure, though the available evidence points more directly to optical-sector weakness.