The stock market has gone on a wild ride in 2020. After being down as much as 30% for the year in late March, the S&P 500 staged an incredible turnaround. Despite the economic dislocation caused by the COVID-19 pandemic, the broad market index is on track to end 2020 with a gain of more than 15%.
Telecom giant Lumen Technologies (NYSE: LUMN) — formerly known as CenturyLink — has been left out of the rally. The stock plunged along with the rest of the market in February and March and never bounced back. Lumen shares are down 26% year to date. Even including reinvested dividends, Lumen shareholders are sitting on a 19% loss for the year.