$VZ+0.6% and $T-0.6% are bleeding today. 🔴
I'll take advantage of the great news on Bulios and quote flash news:
Verizon, AT&T, Lumen - Most telecom companies are seeing declines since reports surfaced that they were installing potentially dangerous lead-covered cables on poles, in the ground and under water. So they will likely have to take costly steps to settle.
I haven't had a dilemma this big in a long time. I'm keeping my hands off $T-0.6%, but I'm wondering if I should dilute my position in $VZ+0.6% at least a little. It seems like a clear value trap, but I think if the results come out, there is something to be gained from it. At the same time, I'm also thinking that unless maybe Amazon somehow disrupts this, these telecom companies aren't just going to disappear.
Verizon
VZ
This case could be quite costly in terms of repairing the damage. I would stay away and watch the whole thing for now, although some may find the drop interesting.
Those telecom stocks were never for me, I stay away from them.
Don't gamblers in a casino act the same way when they are trying to get their money back?;)