Lumen Technologies Faces 15% Decline Following Kerrisdale Capital's Short Report
Tuesday, 27 August 2024, 14:43
Lumen Technologies' Dismal Performance
Lumen Technologies (NYSE:LUMN) saw a staggering 15% decline after the new short report issued by Kerrisdale Capital. The firm has stated its position to short Lumen, intensifying concerns amongst stakeholders.
Kerrisdale's Claims
- Kerrisdale Capital highlights various red flags about Lumen’s financials.
- Investors are urged to reconsider their positions.
- The firm's short stance has raised eyebrows within the investment community.
Lumen's Response
Lumen Technologies issued a statement in response to the report, indicating confidence in its business model and outlook.
Market Reaction
The market's reaction has been swift, with investors weighing the ramifications of the findings published by Kerrisdale. Speculation about Lumen's long-term sustainability intensifies.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.