Why Shares of T-Mobile Rose 32.8% in the First Half of 2020
Shares of wireless service provider T-Mobile US (NASDAQ: TMUS) rose 32.8% during the first half of 2020, according to data from S&P Global Market Intelligence. T-Mobile has been an outperformer among U.S. wireless telecom stocks for a while now, and the first half of 2020 was no different, with the company reporting solid Q1 earnings and then pre-announcing better-than-expected net additions for the June quarter.
But what really propelled T-Mobile's stock higher was the closing of its merger with competitor Sprint. Two years in the making, the merger is expected to yield significant cost synergies while also forming a best-in-class 5G spectrum portfolio.
T-Mobile stock rose after its merger with Sprint. Image source: Getty Images.
Source Fool.com
