12/4

Why is Lumen Stock Down Today After Cyberattack Concerns

Lumen Technologies (LUMN) saw its stock price decline by 2.37% on December 4, 2024, closing at $6.58, down from the previous close of $6.74. The stock opened at $6.75 and reached a high of $6.89 before dipping to a low of $6.57. The trading volume was 14,726,241 shares, which is 87.62% of the average daily volume. The decline in Lumen's stock price can be attributed to the ongoing cyberattack affecting major telecommunications companies, including Lumen, as reported in recent news. This cyberattack, known as Salt Typhoon, has been described as one of the largest intelligence breaches in U.S. history, prompting concerns over the security of telecommunications systems. The uncertainty surrounding the resolution of this cyberattack has likely contributed to the negative sentiment and downward pressure on Lumen's stock.