Jim Cramer’s Hidden Gems: 10 Undervalued Stocks You Need to Know

5. Lumen Technologies, Inc. (NYSE:LUMN)

Number of Hedge Fund Holders In Q3 2024: 26

Date of Cramer’s Comments: 8-21-24

Performance Since Then: -7.50%

Lumen Technologies, Inc. (NYSE:LUMN) is a telecommunications products and services provider that caters to consumer and business needs. The latter portion of its business has been nothing short of a boon for the shares in 2024. Lumen Technologies, Inc. (NYSE:LUMN)’s stock is up by a whopping 200% year-to-date, fueled by an unbelievable 156% gain in August. The August jump occurred after the firm’s second-quarter earnings saw it increase its midpoint annual cash flow estimate to $1.1 billion from an earlier $200 million due to $5 billion in deals with Microsoft and others. The stock gained another 26% in November after Lumen Technologies, Inc. (NYSE:LUMN) increased its deal size to $8 billion. Cramer’s comments came after the stock’s first jump in August:

“This is a parabolic move. It would have been great to be invested in something like network security and cloud solutions. For some, it was easy to see, but I missed it. The trade is done.”