Lumen Technologies, Inc. (LUMN) saw its stock rise by 5.65% to close at $5.61 on January 2, 2025, following the announcement of its new AI-powered platform designed to enhance efficiency for LGT Private Banking employees. This platform, which is being rolled out globally, aims to streamline workflows and improve operational efficiency for approximately 5,000 employees, boosting investor confidence. Additionally, Lumen's recent success in cybersecurity, specifically locking out the Salt Typhoon group from its network, further bolstered investor sentiment. The stock opened at $5.41, reached a high of $5.67, and traded on a volume of 8,593,987 shares, which is 57.79% of its average daily volume.
The positive momentum was also supported by broader industry trends, with telecommunications companies like Lumen expected to benefit from the sale of decommissioned copper cables. This transition to full-fiber broadband and wireless technology is projected to generate substantial revenue, with operators forecasted to receive up to $720 million in 2025. Rising copper prices, expected to reach $12,000 per metric tonne by 2035, provide an additional financial boost.