Why Frontier Communications Corp. Stock Fell 30% in November
Shares of Frontier Communications (NASDAQ: FTR) fell 29.8% lower in November 2017, according to data from S&P Global Market Intelligence. It was a tragedy in three parts.
Frontier's difficult month started with a 24% plunge on November 1, triggered by a disappointing third-quarter earnings report. The next week, a Merrill Lynch analyst slashed his price target on the stock from $19 to $4 per share, noting that the huge dividend yield might be unsustainable. The stock got another 15% haircut that day, erasing all of the previous week's recovery and then some. Finally, Frontier investors suffered another 24% setback on November 24, on no real news at all.
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Source: Fool.com
