Laser Photonics Corporation shares fall 1.61% intraday after Coherent Corp. sells Aerospace and Defense business.

Laser Photonics Corporation declined 1.61% during intraday trading. The drop in stock price may be attributed to the news that Coherent Corp., a global leader in photonics, has entered into a definitive agreement to sell its Aerospace and Defense business to Advent, a leading global private equity investor, for $400 million. This transaction could potentially impact the competitive landscape and market dynamics for Laser Photonics Corporation, leading to investor caution and a subsequent decrease in stock price.