Reported 2 months ago
Lumen Technologies' stock experienced a remarkable surge of over 100% this week following the announcement of partnerships with Microsoft and Corning Incorporated, allowing it to secure a substantial supply of fiber optic cables as demand increases in the AI sector. While the company's stock had been struggling due to declining revenues and negative free cash flow over the past five years, these new alliances have sparked investor optimism for a potential turnaround.
Source: YAHOO