Shares of AT&T have fallen to a three decade low and are now down over 26% in 2023 and 34% the last year amid a sharp decline in subscribers and use of landlines.
"Telecoms carry significant debt loads from their years of building networks," he added. "Not only are those assets less valuable. Some of them could even turn into liabilities, according to these reports. AT&T was already struggling with high costs, and now these old landlines could make things even worse."
John Stankey, chief executive officer of AT&T Inc., speaks during a news conference to promote its high-speed broadband installations in unincorporated townships of Vanderburgh in Evansville, Indiana, US, on Wednesday, Oct. 5, 2022.PHONE COMPANY ENDS 411 SERVICES FOR SOME CUSTOMERS Shares have now fallen 68.79% from an all-time closing high of $44.70 on July 16, 1999, while slipping roughly 32.93% from the 52-week closing high of $20.80 on July 19, 2022. On Monday, AT&T stock is the second worst performer on the S&P 500.
Verizon shares fell in sympathy hitting the lowest level since September 2010, as tracked by Dow Jones Market Data Group.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Star Wars: Doctor Aphra #34 Preview: Worst Pest Control EverUnleash the Force with us in Star Wars: Doctor Aphra 34! Hold your breath for Skywalker, Aphra, and a scary new face from the Force's past. StarWars ComicPreview NewComicWednesday
Read more »
34 Things to Do in the DC Area This WeekThings to do this week: 🍽️ Black Restaurant Week 🍺 Drafts and Crafts Festival 👠TONS of Barbie Events
Read more »
Wimbledon 2023: Carlos Alcaraz beats Novak Djokovic in 5 setsTop-ranked Alcaraz of Spain ended Djokovic's 34-match win stream at Wimbledon.
Read more »
Djokovic’s Wimbledon mastery meets its match in men’s finalNovak DjCarlos Alcaraz, a 20-year-old Spaniard, ends Djokovich’s 34-match
Read more »
Carlos Alcaraz beats Novak Djokovic in five sets to win WimbledonCarlos Alcaraz has ended Novak Djokovic’s 34-match winning streak at Wimbledon by beating him in an engaging, back-and-forth final to claim his first championship at the All England Club.
Read more »