Why Lumen Technologies Plunged Today

Shares of Lumen Technologies (NYSE: LUMN) were falling hard on Tuesday, down 9.1% as of 2:23 p.m. EDT.Lumen is a debt-riddled company whose stock became distressed earlier this year. However, an early-year deal to extend its debt maturities, combined with long-term deals for AI (artificial intelligence) networking, caused the stock to skyrocket in early August.But weeks after the stock's big pop, skeptics are publicly throwing cold water on the AI-fueled turnaround prospects. Today, another short-seller voiced skepticism as to how meaningful those AI deals will really be in tackling the company's massive debt load. This was the second short-seller to publish a note in just the past week. That added to general market fears today, resulting in a big drop.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool