AT&T Tumbling
Gary S. Morrow | Oct 20, 2020 12:21PM ET
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 .
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