Could This Underperforming Stock Become a Millionaire-Maker?
Shares of Lumen Technologies (NYSE: LUMN) -- formerly CenturyLink up until late 2020 -- had another poor outing in 2023. With just a few weeks left to go, the struggling telecom and internet-infrastructure stock is down another 72% this year, continuing a long-standing downtrend for the better part of a decade now.
And yet, by one metric, Lumen Technologies looks like it could be an incredibly cheap stock. Could 2024 be the year the business turns things around and rockets higher, turning into a millionaire-maker investment?
Decades after the internet began to be widely commercialized, the worldwide web is still very much a hotbed of secular growth for investors. But unfortunately for Lumen, its telecom and internet infrastructure-heavy model of yesteryear has left it highly indebted.
Source Fool.com
