AT&T After Its Discovery Deal: Is the Stock a Good Investment?
Investors were justified in shying away from AT&T (NYSE: T) stock over the last few years. Its share price sank from nearly $30 toward the end of 2019 to a 52-week low of $16.62 last December as the company dismantled the entertainment empire it spent billions to acquire, and cut its high-yield dividend in the process.
But the last act in AT&T's Hollywood story arrived on April 8, when it completed the merger of its WarnerMedia entertainment division with cable TV company Discovery, forming Warner Bros. Discovery. The milestone concluded the divestiture of AT&T's entertainment holdings.
Is the remaining AT&T a compelling investment? Looking at its telecom business after John Stankey became CEO in 2020 can help to assess if the post-entertainment AT&T is a worthwhile long-term investment.
Source Fool.com
