Lumen Technologies (LUMN) is experiencing a rise in its stock price today, potentially driven by broader industry trends and developments. A recent report highlights that telecommunications companies, including Lumen, are expected to benefit from a significant windfall as they decommission legacy copper lines. The forecast suggests that operators could collectively earn over $10 billion from copper sales over the next 15 years, with $720 million anticipated in 2025 alone. This financial boost comes as the demand for copper, a critical component in the transition to clean energy, is projected to grow, with prices expected to rise significantly by 2035.
Lumen Technologies' stock is currently trading at $5.51, marking a 3.73% increase from its previous close of $5.31 and a 1.81% rise from its opening price of $5.41.