Why Crown Castle International Shares Gained 18% in the First Half of 2020
Shares of Crown Castle International (NYSE: CCI) rose 17.7% in the first half of 2020, according to data from S&P Global Market Intelligence. The cell tower and wireless infrastructure manager separated from the broader market's COVID-19 pattern in February, when the long-suffering merger between cell network operators T-Mobile US (NASDAQ: TMUS) and Sprint received its final John Hancock. The S&P 500 fell 4% over the same period.
The Sprint deal had been hanging like a dark cloud over the telecom market since 2018. Investors hate uncertainty, and the $26 billion deal was always a potential game changer that could fall apart at any moment. Removing that chaotic ingredient from an unsettled wireless sector was a surefire way to boost market values across the entire industry (except for T-Mobile/Sprint's leading rivals, of course).
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Source Fool.com
