Lumen Technologies Shares Surge to Best Month Ever Amid AI Frenzy
- Shares shoot up 186% in July as network capacity deals kick in
- ‘Skeptical how much things have changed’: Morningstar’s Dolgin
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Lumen Technologies Inc. shares leaped 186% in July for their best monthly gain on record, as artificial intelligence deals and short covering sparked a wild run after years of vicious selling.
The stock gained 18% on Wednesday to notch a 15-day winning streak, the longest in its history. Lumen shares entered the month trading for $1.10 and are now at $3.15. They were down 40% through the first half of 2024 after losing 65% in 2023 and 58% in 2022.