Why Verizon Stock Fell 6% in the First Half of the Year
Shares of Verizon (NYSE: VZ) were lagging the market once again in the first half of the year as a combination of underwhelming quarterly results, rising interest rates that make short-term bond yields more competitive, and a surge in tech stocks from interest in artificial intelligence all left the telecom stock in the dust.
According to data from S&P Global Market Intelligence, the stock fell 6% in the first six months of the year, significantly underperforming the S 500, which gained 15.9%.
As you can see from the chart below, the stock headed steadily lower over most of the first half of the year.
Source Fool.com
Verizon Communications Inc. Stock
€38.24
0.120%
The stock is one of the favorites of our community with 23 Buy predictions and 1 Sell predictions.
With a target price of 41 € there is a slightly positive potential of 7.22% for Verizon Communications Inc. compared to the current price of 38.24 €.
