Shares of Lumen Technologies Inc. (NYSE:LUMN) opened up much higher to kick off Wednesday’s session as traders snatched up shares at $1.52/share (+12.59%) at the opening bell. While shares have traded a bit lower since the staggering open, at the time of writing it was trading at $1.455/share (+7.78%) as we head toward market close. Keep you eye on this one!
Lumen Technologies is one of the United States’ largest telecommunications carriers serving global enterprises. Its merger with Level 3 further shifted the company’s operations toward businesses (over 70% of revenue) and away from its legacy consumer business. Lumen offers businesses a full menu of communications services, providing colocation and data center services, data transportation, and end-user phone and internet service. On the consumer side, Lumen provides broadband and phone service across 37 states, where it has 4.5 million broadband customers.
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