Is It Finally Safe to Buy AT&T Stock?
It's not often that a stock hits a 30-year low, but AT (NYSE: T) did just that last summer in the wake of revelations that "toxic" lead-clad cables left behind underground and underwater by the company decades ago could cost it billions of dollars to remove and properly dispose of.
The lead cables issue was the latest ignominy to hit the telecom giant, coming after years of underperformance that included a failed bid to buy Sprint, losing market share to more nimble competitors like T-Mobile, and a series of disastrous acquisitions, including DirecTV and Time Warner, that have destroyed tens of billions of dollars in market value.
However, just when it seemed as though things couldn't get any worse for AT, the company started to turn around. Since July 17, when the stock hit bottom AT $13.43 in the wake of a Wall Street Journal investigation about the lead-clad cables, AT share prices have risen 24%, outperforming the S 500.
Source Fool.com
