Thursday's Most Active Stocks: Lumen, Intel, Lyft, And More

(MENAFN- Baystreet) Trading volumes in shares of Lumen Technologies (LUMN) may surge again today. On Wednesday, trading volume in LUMN stock topped 262.16 million shares. Nvidia (NVDA) is the only stock with higher trading volume that day.

Lumen shares bottomed at $1.00 only a month ago. Buyers accumulated the stock, leading to the recent breakout to $6.60. The firm expects to achieve $1.0 to $1.2 billion in free cash flow this year. This substantially lowers Lumen's risks of bankruptcy. It has cash flow to manage its debt and interest obligations.

Intel (INTC) failed to hold its $20 support price after the earnings sell-off. The former favorite in the chip sector posted weak quarterly results and issued a disappointing outlook. It will take a few years before its foundry investments pay off. Chip investors may watch AMD, Taiwan Semiconductor (TSM), Broadcom (AVGO), Qualcomm (QCOM), and Arm Holdings (ARM).

Wolfspeed (WOLF) is the stock to avoid. Bears hold a 17.02% short interest against the firm.

Ride-sharing firm Lyft (LYFT) is in a permanent downtrend. Selling intensified after Lyft issued a weak outlook in its Q2 report. Bookings increased by 17%, while revenue grew by 41% in Q2.

In Q3, gross bookings will not grow. For the year, ride volumes will only grow in the mid-teens. EBITDA margin also faces pressure.

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