ATT Stock Price
ATT stock price today is 30.02 USD with a volume of 80.62M USD. In 52 weeks, ATT stock price increased to a maximum of 33.88 USD. In 52 weeks, ATT stock price decreased to a minimum of 26.35 USD. It is ranked 214,271B in Market Cap listings.
AT&T Inc. is an EU-based and multinational conglomerate holding company. It is the largest telecommunications company in the world. It is also the largest fixed telephony service provider and the largest mobile operator in the USA. As of 2020, AT&T ranks 9th in the Fortune 500 ranking with $ 181 billion in revenue.
It merged with the Bell Telephone Company which is founded by Alexander Graham Bell, and over time became the largest telephone company in the world. Later, for legal reasons, Bell Systems (formerly Bell Telephone) and AT&T were separated.
AT&T Inc. in the Last 2 Years
On March 4, 2020, AT&T announced it would initiate a major cost-cutting movement, including cuts in capital investment, and plans to promote AT&T TV as its primary pay television service offering. AT&T will still support DirecTV where cable broadband is not common.
On April 24, 2020, AT&T announced that from July 1, 2020, the company’s CEO, John Stankey, will be replaced by Randall L. Stephenson as AT&T CEO. They also acknowledged that DirecTV and Time Warner, which AT&T had acquired, had so far created a massive $ 200 billion debt to the company.
As a result of cost reduction plans, Warner Bros. The sale of DirecTV (30% stake in TPG Capital), Crunchyroll and Rooster Teeth, including Interactive Entertainment, Xandr, AT&T U-Verse, and AT&T TV has been proposed. With the planned sale of Warner Bros Interactive Entertainment, the gaming industry has experienced tremendous growth due to COVID-19. In addition, fans and critics welcomed the games DC Comics, Lego Star Wars and Harry Potter, and then was abandoned. As of September 1, 2020, all other subsidiaries are still receiving offers.
On December 25, 2020, a bombing in Tennessee affected the entire United States and there were disruptions in AT&T service in Middle Tennessee. Cellular, cable phone, Internet and U-verse television services were badly affected by the damage to the infrastructure at an AT&T service facility in the blasting area.
In January 2021, AT&T considered reducing its workforce in Slovakia due to the Covid-19 outbreak and announced that around 300 jobs could be badly affected as a result.
in May 2021, it announced that she will split WarnerMedia, which will merge with Discovery Inc. for $ 43 billion.
Should AT&T Stock be Purchased?
Among the telecom giants, one of the market’s biggest losers is showing signs of bottoming out. ATT stock price fell below $ 30 in recent weeks. It is necessary to go back more than six years to find the last time this situation occurred.
Although some wrong moves made a bad effect on ATT stock price, it is trying to fix that bad situation.
Should AT&T Stock be Purchased?
AT&T lost a quarter of its shares due to some wrong moves and massive investments it made. In addition, AT&T’s debt levels remained high and some investors questioned the sustainability of the dividend amount.
This market concern has been reversed in the past few months. Rising bond yields turned into valuable stocks driven by growth, and investors shifted from pandemic games to reopening games. Thus, AT&T regained some of its investors with this situation.
AT&T had sold a 30% stake in DIRECTV earlier in the year. The purpose of doing this was to streamline its operations and reduce debt, and this plan worked. The plan, which showed improvements beyond expectations, helped the ATT stock price recover.
This content is not for financial advice. You should do your own research and you are responsible for your own decisions. Make your own decisions yourself.