I just found that a trust I've been left contains 4,000 shares of this stock - and it's value is $2.42 or so per share - it looks very out of place compared to the other stocks, like Bank of America which trades at around $47 or so.
What is the deal with this company? I looked at a long-term history and it seems that once they traded at over $80/share. I'm going to get the history of when these stocks were bought to see if I'm just dealing with dimwit brokers or if they bought it when it was way below a buck per share.
But I really want to know what happened to this company that caused its stock to drop so drastically. Anyone know? URLs would help for backup, if you have them (I'm putting together a file for an attorney who's helping us with the trust and would like any documentation I can get). If you don't have URLs, but just know the history, that's cool. I'll take what I can get.
2006-07-10 14:38:37 · 7 answers · asked by tagi_65 5 in Business & Finance ➔ Investing
Lucent Technology was once a part of AT&T's manufacturing arm. It was combined with Bell Laboratories and spun off early in the decade. It's problem was it built switches for the existing telephone network as the Bell Cos and others were changing over to wireless and fibre optics type communications systems. It has not been able to catch up with and best its competitors. Shortly it will be merged into Acatel a French company. Generally speaking once a solid profitable company's stock goes below $5 its chances of a price recovery are very low.
2006-07-10 15:10:51 · answer #1 · answered by wealthmaster 3 · 2⤊ 1⤋
LU is simialr to Nortel Network(s) situation. Both stocks went up over $60 and now around $2. Overall, the demand for their products are weak and the industry they are in is very competitive. The stock is not coming back for a while until we see some real turnaround. For some nice turnaround stock you can study Qwest and Kmart history.
2006-07-10 23:01:29 · answer #2 · answered by marketwizard 2 · 0⤊ 0⤋
I recently bought some Lucent stock because of the potential growth evident but the trading prior trading prices... Even if it only gains 10% of what it used to be it will be worth it... (BUT I AM A RISK TAKER)
2006-07-10 21:48:35 · answer #3 · answered by NotneuqCorp 2 · 0⤊ 0⤋
Lucent fell on hard times a few years ago and the stock tumbled.
It isn't much better off today.
2006-07-10 21:42:48 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Internet bubble burst in 2000...Lucent went down hard...and never recovered
2006-07-10 21:42:24 · answer #5 · answered by bobsled 5 · 0⤊ 0⤋
I saw it as low as $1.50 a couple years(2002?) ago so had you bought some then, you'd made a nice piece of change.
2006-07-10 21:45:33 · answer #6 · answered by -* 4 · 0⤊ 0⤋
Sell,sell,sell! There are better stock oppurtunities.
2006-07-10 22:16:25 · answer #7 · answered by arthur.krill@sbcglobal.net 2 · 0⤊ 0⤋