Why Lumen Technologies Stock Is Sinking Today
Lumen(LUMN) The Motley Fool·2024-11-13 04:32
Lumen is making moves to reduce its debt. So why are investors bailing on the stock?Lumen Technologies (LUMN -9.78%) stock is seeing big sell-offs in Tuesday's trading. The company's share price was down 9.3% as of 3 p.m. ET. and had been down as much as 11.7% earlier in the daily session. Meanwhile, the S&P 500 index was down 0.5%.Lumen stock is losing ground in conjunction with news that the company and its Level 3 Financings subsidiary are looking to buy back some of the telecom's outstanding bonds. The ...