Why Lumen Technologies Rallied This Week
Shares of enterprise network giant Lumen Technologies (NYSE: LUMN) rallied this week, up 29.3% as of 2:45 p.m. ET on Friday.
Lumen has been battered in recent years, due to falling revenue and a high debt burden. However, the stock has recovered from its lows, as artificial intelligence (AI)-related networking deals and some new product announcements have lifted hopes for a turnaround.
On Sept. 9, Lumen put out a press release describing its new RapidRoutes product, which enables enterprises to provision and scale network services within 20 days. That's a big change from the traditional process, which can typically take months. Lumen's enterprise connections can now reach up to 400 gigabytes per second, with connectivity to 125 cloud on-ramps.
Source Fool.com
