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Lumen Stock Crashes 21% as Guidance Disappoints

TheMotleyFool

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Lumen Stock Crashes 21% as Guidance Disappoints

Lumen Technologies (NYSE: LUMN) shareholders have gotten used to disappointment in recent years. Shares of the telecom company -- formerly known as CenturyLink -- have fallen 75% since the beginning of 2015. Even including the benefit of Lumen's high dividend, investors who bought the stock seven years ago have lost more than half of their money.

Lumen stock took its latest plunge last week after the company projected that adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) will fall dramatically in 2022. The shares sank 21% in the final two days of the week.