Why Altice USA (ATUS) Shares Are Trading Lower Today
Stock Story
Published Apr 05, 2024 11:59
Updated Apr 05, 2024 12:16
Why Altice USA (ATUS) Shares Are Trading Lower Today
Stock Story -
What Happened:Shares of telecommunications and cable services provider Altice USA (NYSE:ATUS) fell 13.6% in the morning session after Wells Fargo (NYSE:WFC) analyst downgraded the stock's rating from Equal Weight (Hold) to Under Weight (Sell) and lowered the price target from $2 to $1. The analyst cited "increased competition in the fiber business" and raised doubts about a potential acquisition by Charter Communications (NASDAQ:CHTR).
As a reminder, shares of ATUS rose in February 2024 after Bloomberg reported that Charter Communications was considering acquiring the company.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Altice USA? Find out by reading the original article on StockStory.
What is the market telling us:Altice USA's shares are very volatile and over the last year have had 82 moves greater than 5%. But moves this big are very rare even for Altice USA and that is indicating to us that this news had a significant impact on the market's perception of the business.
Altice USA is down 32.2% since the beginning of the year, and at $2.18 per share it is trading 40.1% below its 52-week high of $3.64 from August 2023. Investors who bought $1,000 worth of Altice USA's shares 5 years ago would now be looking at an investment worth $95.60.
Get The App
Written By: Stock Story
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.