Shares of AT&T Inc.
T,
-0.49%
dropped 0.6% in afternoon buying and selling Wednesday, placing them on monitor to undergo the longest dropping streak in a yr, and as they headed for the bottom shut since July 2010. The inventory has shed 7.5% over the previous six periods, which might be the longest stretch of losses because the nine-day loss streak that ended Oct. 21, 2020. The selloff has boosted AT&T’s implied dividend yield to eight.23%, making it the second-highest yielding inventory within the S&P 500
SPX,
+0.33%,
slightly below fellow communications firm Lumen Technologies Inc.’s
LUMN,
-0.12%
yield of 8.27%. That compares with the implied yield for the S&P 500 of 1.39%. AT&T’s inventory selloff comes amid rising investor issues over competitors with cable firms, and over ramped up spending by telecommunications firms to construct out their fiber networks. Shares of AT&T rival Verizon Communications Inc.
VZ,
-0.19%
slipped 0.3% in Wednesday afternoon buying and selling towards a fifth straight loss and the bottom shut since March 2020, whereas pushing up its implied dividend yield to five.00%.

Source link