AT&T, Verizon, Frontier, and Lumen all get hammered after lead-cable reports.

AT&T’s stock price hit a 29-year low on Friday and continued to sink today as investors fled telecom stocks on reports that cleanups of lead-covered telephone cables could cost the industry tens of billions of dollars.

    • EnderWi99in@kbin.social
      1·
      1 year ago

      You know companies need to exist so you can have and do nearly everything you rely on in your life right? Unless you want the state to control all means of production, which I would not recommend, there is a lane where corporations do need to exist and you’re absolutely free to invest in their businesses (or not) just like everyone else.

    • Melatonin@lemmy.dbzer0.comEnglish
      0·
      1 year ago

      I believe that stock prices have at best a tiny relationship to the corporation’s health, except in extreme cases.

      It’s mostly a picture of wealthy and powerful elites manipulating equity prices for their own gain. Completely rigged by people whose only concern is control.

      But hey, we should be happy. Use Your Illusion. If we are intentional, free, and authentic they cannot touch our souls.

      • AggressivelyPassive@feddit.deEnglish
        0·
        1 year ago

        Also, a majority of stocks are never traded, really. It’s just sitting there in ETF or other funds/depots without ever being looked at.

        The short term price differences are solely based on valueless trades back and forth.