Shares of Verizon ( VZ.US ) and AT&T ( T.US ) have been under massive downward pressure of late due to the highly publicized lead scandal in the US. These are telephone cables that were once installed in the USA and contained a lead coating.
The problem, however, is that of the entire industry, Shares of AT&T, Verizon and Lumen Technologies (LUMN.US) lost a combined value of 18 billion USD last week.
The WSJ said in its investigation that it found evidence of no more than 2,000 lead-coated cables and “there are likely many more around the country.” The problem is the degradation of this metal itself, which then reaches densely populated areas.
According to the first, the problem should be called because these cables were installed before 1960, which, due to the lack of precise information about their location, could lead to losses for companies in the tens of billions of dollars.
At first, the reaction to the WSJ was quite intense. Source: xStation 5
Corporate shares are extending their long-term falling waves and are now falling to multi-year and historic lows. Source: xStation 5
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2023-07-17 19:13:40
#Verizon #ATT #historic #lows #lead #scandal
