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AT&T Tumbling

Published 10/20/2020, 12:21 PM
Updated 07/09/2023, 06:31 AM

AT&T Daily Chart.

Shares of AT&T (NYSE:T) continue to fall. The stock is working on a ninth straight loss as it extends the drop from the summer highs to 18%. Year to date, AT&T is off 31.4% versus a gain of 6.6% for the S&P 500 Index. With earnings just around the corner (Thursday morning) investors are showing very little interest in this laggard.

AT&T is heading for its lowest weekly close in more than a decade. The last time the stock closed out a week below $27.00 was back on Aug. 27, 2010. That being said, AT&T put in two major lows just below $27.00. The nasty December 2018 flush held this zone as well as the March 2020 plunge. We’ll soon know if support here remains solid.

AT&T Inc. was started as Peer Perform at Wolfe Research.

Current dividend yield = 7.75%

Note: We are long AT&T in our dividend income portfolio.

You can read Gary S. Morrow's original post here.

Latest comments

These big telecom companies got government money to improve infastructure. Instead they gave it to investors. Let ATT crumble
They own CNN.
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