After several years of underperformance, Lumen Technologies (LUMN) has staged a spectacular comeback amid the artificial intelligence (AI) boom, rising 181% since the start of 2024. However, the rally has been derailed in recent sessions by a short seller report, driving the stock lower by 18% so far this week.
Today, Lumen Technologies is valued at a market cap of $5.43 billion, and the stock trades over 89% below all-time highs. Let’s see if this week's pullback provides investors with a buying opportunity on this AI stock.
