Interesting to see the price drop immediately after multiple locations report fiber and small cell are both being sold. I guess writing off a +$5b loss on the fiber investments isn't sitting well.
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They will definitely have more layoffs. The only thing to be remotely hopeful for is is that they provide a severance package. Look what greed does to people. The shareholders wanted more cash and dividends, with the loss of fiber and small cells at such a huge discount, the stock will definitely decline and dividends will need to be slashed. Not as much growth in new towers VS fiber and SCN. If they had the right people in place, spent the money they had more wisely, they could have been very profitable. Greed ultimately catches up with them and the downward spiral begins.
Any chance of Layoffs in Oct, now that the news is out?
They have to announce soon. They can’t go into earnings and not have an answer.
https://www.tipranks.com/news/the-fly/crown-castle-reported-asset-valuation-on-lighter-side-says-wells-fargo
3$ ? Oh no!
You have to think 8 billion of that is the RAPID and 2 billion is fiber
Suprised no senior fiber leadership has lost their jobs, except poor JP.
Ouch, lost more than 1/2 of their 20B+ investment.
https://www.reuters.com/markets/deals/eqt-backed-zayo-tpg-vie-crown-castle-assets-worth-nearly-10-billion-sources-say-2024-10-02/