Over the past 24 hour, a simple Google search will offer numerous articles discussing the AT&T downgrade and how the stock is dropping quick. Average volume lingers around 30 mil, but yesterday 59 mil jumped into the fray, primarily selling. Many of those articles have comments trying to downplay the issues and many knock on the analyst that downgraded. Sorry AT&T, but the reign is coming to an end and the writing is on the wall that it is a poorly run company that treats customers and employees badly, bait and switches, and has an extremely egotistic top echelon. Thus, all your trolls trying to influence opinion won't help this time and some are quite fearful that, at this point, even top management changes may not either. It's a shame how this once reapectable company has fallen due to the actions of a mere greedy few.
7 replies (most recent on top)
The stock price is mainly controlled by the Federal Reserve and artificially low interest rates. When the Fed reversed last December, AT&T at $30 became a buy. With recent pledges to buy back stock, increase the dividend, and retire debt, it's no worse than a hold, because of the dividend.
The fact is, low interest rates keep zombie corporations alive. The President champions negative interest rates, where corporations are paid to borrow, and savers are taxed to pay for it, like in Europe. In Europe, a company can go to a bank and say, we want to borrow money, we have a lousy business plan that doesn't break even, but it is good enough to pay most of the loan back. That is negative interest rates.
And meanwhile, we have the President musing "I used to have to go bankrupt to do that". 😜
You say bad things when the stock goes up, and say bad things when the stock goes down.
Well if you look at moffetts history it looks like they are not very good when it comes to predicting and seems negatively biased when it comes to T.
https://www.tipranks.com/analysts/craig-moffett
Ultimately, an organization is only as good as its leadership. AT&T is being lead by greedy and highly mediocre sociopaths who have no concern for the long term health of this company, its employees, or its customers. They are only looking to line their pockets with what they can loot from this dying company before they can move on.
Were there justice in this world, Randall and his entire C-suite of boot licking opportunists would be removed from their positions MINUS their golden parachutes.
In time they will screw up wireless. They already been found guilty of frivolous charges and sent the former head into a golden parachute. Att cancer is much bigger than the entertainment group and looks like it is going to have to learn the hard way .
Moffett called entertainment a cancer and wireless is not being focused on. Very true!! Stankey, Stephens and Stephenson have totally mismanaged this company.
oops, sorry about some of the typos, was concerned whether it would be taken down and wrote too quick.