Why Lumen Stock Skyrocketed Again Today but Then Lost Most of Its Gains
The stock of Lumen Technologies (NYSE: LUMN) was surging again in Thursday's trading. The telecom specialist's share price ended the daily session up 5.4%, according to data from S&P Global Market Intelligence. But the stock had been up as much as 33.3% early in today's trading.
Lumen has been on a bullish tear lately thanks to new deals and partnerships. Despite volatility today, the company was able to keep its recent streak of gains alive.
Shares rallied again following news that the company had entered a purchasing agreement with for next-generation fiber optic cable, but they lost ground after macroeconomic concerns gripped the stock market.
Source Fool.com
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