Nov. 8, 2023 10:07 am ET
Kate Johnson is betting nearly $1 million that the investors fleeing her company are wrong.
Johnson bought 1 million shares of Lumen Technologies stock last week as it dipped into penny-stock territory, costing the telecommunications company boss $970,000. The former Microsoft and General Electric executive said the purchase made sense as she felt investors overreacted to a complicated third-quarter report and restructuring plan.
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