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Why Lumen Stock Surged Today

TheMotleyFool

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Lumen (NYSE: LUMN) stock jumped in Thursday's trading. The telecom company's share price closed out the daily session up 4.8%, according to data from S&P Global Market Intelligence.

Bloomberg published a report yesterday stating that Lumen is looking to extend the deadline for its pending debt-restructuring deal. Per the report, Lumen's creditors have accepted an extension.

Lumen carries roughly $19.7 billion in debt on its books. Meanwhile, the company closed out today's trading with a market capitalization of $1.75 billion.

Source Fool.com

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