After struggling for years, shares of Lumen Technologies (NYSE: LUMN) skyrocketed in 2024, more than doubling through the first three quarters of the year.
Assuming it does not get bought out, Lumen now has a tremendous opportunity.
Why did Lumen Technologies' shares soar in recent months? There's a dark side to the network vendor's stock-boosting financial maneuvers.
The underdog telecom company's stock soared nearly fivefold over the past year.
Is hype fueling Lumen Technologies, or could this be a stock worth buying right now?
My initial Buy recommendation for Lumen Technologies, Inc. has been my most successful to date, with the stock soaring nearly 400% since January. The reasons for this optimism are rooted in management's successful execution of its turnaround plan. Management has pledged to deliver further cost efficiencies soon, and recent developments in expanding AI exposure appear extremely promising.
Lumen stock soared today thanks to a new ownership disclosure made to the SEC. A new, individual investor now owns roughly 5.4% of Lumen's common stock.
MarketWatch recently caught up with Lumen CFO Chris Stansbury, who discussed the opportunities ahead in AI and consumer fiber.
Increasing opportunities driven by AI proliferation are emerging as a tailwind for LUMN. Debt-laden balance sheet and competition in the AI space are overhangs.
Lumen Technologies, Inc. (NYSE:LUMN ) Goldman Sachs Communacopia and Technology Conference Call September 9, 2024 7:25 PM ET Company Participants Chris Stansbury - Executive Vice President & Chief Financial Officer Conference Call Participants Jim Schneider - Goldman Sachs Jim Schneider Good afternoon everybody. Welcome to the Goldman Sachs Communacopia and Technology Conference.
Lumen Technologies, Inc. (NYSE:LUMN ) Bank of America's 2024 Media, Communications and Entertainment Conference September 5, 2024 8:50 AM ET Company Participants Chris Stansbury - EVP and CFO Conference Call Participants Dave Barden - Bank of America Merrill Lynch Dave Barden All right. So guys, everybody, welcome to round two.
Lumen Technologies, Inc. (NYSE:LUMN ) Citi's 2024 Global TMT Conference September 4, 2024 12:30 PM ET Company Participants Chris Stansbury - EVP, CFO Conference Call Participants Brian Badillo - Citi Brian Badillo Thank you all. Is it 12:30 as we're starting or 12:30.