CIEN drawdown: 61.4% below the all-time high
Ciena Corporation (CIEN) is 61.4% below its all-time high, set Oct 20, 2000 (as of market close, Aug 6, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1997).
- Below all-time high
- −61.4%
- 38.6% of ATH
- All-time high
- $1,047
- Oct 20, 2000
- Time below the high
- 25.8 yrs
- since Oct 20, 2000
- Worst-ever drawdown
- −99.5%
- Feb 23, 2009
- Longest underwater
- 25.8 yrs
- between all-time highs
- Today's level first reached
- Feb 16, 2000
- 26.5 yrs ago
- Last time this deep
- Oct 28, 1999
- in a previous episode
% of all-time high since 1997#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of CIEN, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Oct 20, 2000 | Feb 23, 2009 | −99.5% | 8.3 yrs | not yet | 25.8 yrs+ |
| Jul 20, 1998 | Oct 14, 1998 | −90.8% | 3 mo | Feb 10, 2000 | 1.6 yrs |
| Mar 1, 2000 | Apr 14, 2000 | −50.3% | 44 days | Aug 17, 2000 | 6 mo |
| Feb 25, 1997 | Apr 23, 1997 | −47.4% | 57 days | May 23, 1997 | 3 mo |
| Oct 22, 1997 | Feb 24, 1998 | −38.9% | 4 mo | Jun 5, 1998 | 7 mo |
| Aug 5, 1997 | Aug 15, 1997 | −22.7% | 10 days | Oct 9, 1997 | 2 mo |
| Sep 1, 2000 | Sep 12, 2000 | −22.2% | 11 days | Sep 20, 2000 | 19 days |
| Jun 10, 1997 | Jun 16, 1997 | −16.0% | 6 days | Jul 11, 1997 | 31 days |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1997: how far CIEN stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: CIEN is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is CIEN from its all-time high?
- CIEN is currently 61.4% below its all-time high, set Oct 20, 2000 (as of market close, Aug 6, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest CIEN drawdown ever?
- The deepest decline on record in our data (since 1997) took the stock 99.5% below its prior high, bottoming Feb 23, 2009. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1997 (split-adjusted). "All-time" means since our price data begins — CIEN may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.