Lumen Technologies (LUMN) stock is experiencing an uptick today, potentially driven by broader industry trends and developments. A recent report highlights that telecommunications companies, including Lumen, are expected to benefit significantly from the sale of decommissioned copper cables. As the industry transitions to full-fiber broadband and wireless technology, the sale of copper is projected to generate substantial revenue, with operators forecasted to receive up to $720 million in 2025 alone. This anticipated windfall comes amid rising copper prices, which are expected to reach $12,000 per metric tonne by 2035, providing a financial boost to companies involved in the recycling and sale of the metal.
Additionally, Lumen's recent efforts to enhance its cybersecurity measures by locking out the Salt Typhoon group from its network may also be contributing to investor confidence. This move underscores the company's commitment to securing its infrastructure, which is crucial in maintaining operational integrity and customer trust.
Lumen Technologies' stock is currently priced at $5.49, reflecting a 3.30% increase from its previous close of $5.31 and a 1.39% rise from its opening price of $5.41.