: Verizon stock heads for worst year on record, and rival AT&T has an ‘extraordinary’ lead

by | Dec 21, 2022 | Stock Market

Shares of Verizon Communications Inc. are on track for their worst annual performance on record following a string of subscriber losses that have prompted questions about the company’s promotional strategy and the strength of its network. Verizon shares
are down 27.3% so far in 2022, which would mark their worst annual percentage decline on record, according to Dow Jones Market Data. The performance is notable as shares of Verizon’s main peers have fared significantly better over the course of 2022: AT&T Inc.’s stock
is down just 2.3% thus far, while T-Mobile US Inc.’s
is up 22.0% and on track for its sixth double-digit annual gain in the past eight years.

Going back to 1983, there have been just three times when the spread between Verizon and AT&T shares was at least 25 percentage points in AT&T’s favor. The stocks are flirting with such a spread this year, with AT&T’s performance currently 24.99 points better than Verizon’s. Just once in that four-decade span did Verizon’s stock record a spread upward of 25 points in its own favor relative to AT&T, according to Dow Jones Market Data.

Wolfe Research analyst Peter Supino recently highlighted the “extraordinary relative stock performance” between Verizon and AT&T, noting a 29-point spread relative to AT&T since the start of April, as of the publication of his latest report. Verizon’s stock has suffer …

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