this post was submitted on 18 Jul 2023
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Technology

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AT&T stock fell to 29-year low on Friday and sank another 6.7% today (arstechnica.com)
submitted 1 year ago by PopBobert@lemmy.world to c/technology@lemmy.world
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AT&T's stock price hit a 29-year low on Friday and continued to sink today as investors fled telecom stocks on reports that cleanups of lead-covered telephone cables could cost the industry tens of billions of dollars.

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[โ€“] Melatonin@lemmy.dbzer0.com 0 points 1 year ago (1 children)

I believe that stock prices have at best a tiny relationship to the corporation's health, except in extreme cases.

It's mostly a picture of wealthy and powerful elites manipulating equity prices for their own gain. Completely rigged by people whose only concern is control.

But hey, we should be happy. Use Your Illusion. If we are intentional, free, and authentic they cannot touch our souls.

[โ€“] agressivelyPassive@feddit.de 0 points 1 year ago

Also, a majority of stocks are never traded, really. It's just sitting there in ETF or other funds/depots without ever being looked at.

The short term price differences are solely based on valueless trades back and forth.