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Why Veon Stock Just Dropped 8.5%

TheMotleyFool

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Shares of telecom Veon (NASDAQ: VEON) are tumbling this morning, down 8.5% as of 11:15 a.m. EST, despite the company having just reported what it called "good operational performance" for fiscal 2019.

Part of the blame for this can be laid at the feet of J.P. Morgan, which TheFly.com tells us downgraded shares of Veon this morning, cutting its rating all the way from overweight to underweight.

But the rest of the blame goes to Veon itself.

Source Fool.com

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