Lumen stock sliding as Kerrisdale Capital takes short position

Lumen Technologies (LUMN) shares tumble after Kerrisdale Capital disclosed it is taking up a short-selling position against the cloud operator. Market Domination's Josh Lipton and Seana Smith highlight Kerrisdale Capital's latest report which cites Lumen's position in the AI race and its debt load.

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This post was written by Luke Carberry Mogan.

Video Transcript

Loman shares are sliding after Carsdale Capital disclosed a short position on the company Kist Dale bringing into question Loman's focus on A I to fuel a turnaround.

Remember that this is a stock that is significantly outperformed since the start of the year.

Today's drop following the, you're looking at losses of just about 15%.

But some of the questions that Kerrisdale Capital did bring up within this call here, they're talking about their questioning the A I play, how big of a player they're going to be.

They also brought up their debt load.

Uh Right now, Joshua's totals just around 19 billion.

Yeah.

Now, now the company is responding, telling reporters, uh Luman is a trusted network for A I and the recent announcements reflect not only our confidence but the confidence of others uh that are racing to secure bandwidth.

We recently did have uh the CEO on young finance Kate Johnson, she was sounding strong, sounding confident about the business reminding us they are well positioned, they run a big portion.

She said of the world's internet traffic on their backbone, but some interesting headlines and stock reaction today for sure, Sean