Will Lumen Technologies Stock Beat the Market in 2024?
Buying a growth stock at a beaten-down valuation can be a way for investors to potentially earn a great return. The problem is that some stocks that are down big won't end up recovering. The temptation to buy a troubled stock because its valuation is low can get investors into a situation where they end up becoming bagholders of a company they weren't all that fond of.
Lumen Technologies (NYSE: LUMN) is an example of a growth stock that has taken a beating in recent years. Since 2022, its share price has plummeted a whopping 86%. Its valuation fell as investors grew concerned about the company's high debt load and abysmal financials. The CEO hopes to turn the business around and lead it back to generating stronger results -- but that's still in its early stages.
Is Lumen an underrated stock worth investing in today? Does it have the potential to be a market-beating stock next year?
Source Fool.com
