Almost 16% of Lumen shares are currently sold short, resulting in a short ratio of 12, and any short ratio over 10 increases the possibility of a sharp squeeze higher.

This year, Lumen is expected to record its lowest free cash flow total since 2017. Free cash flow is forecast to drop from $3.6 billion to $2.2 billion.

Lumen’s price per share was $11.47 as of Thursday's market close. One year ago its price was $12.71.

Unlike some of its competitors, Lumen Technologies can provide businesses with multiple services on a global scale, and its extensive fiber network limits the number of rivals who could attempt to replicate all its services.

LUMN's price per share was $12.05 as of yesterday's market close. One year ago its price was $11.09.