AT&T Stung Buyers by Spinning Off Warner Bros. Discovery

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‘s April determination to parcel out its massive curiosity in

Warner Bros. Discovery

to all shareholders, quite than giving them the choice of receiving an equal quantity of the cellphone firm’s inventory, has turned out to be a nasty transfer for traders. Warner inventory has dropped sharply.

AT&T shares (ticker: T), which ended Tuesday at $18.02, are down simply 1% because the spinoff on April 8, topping the returns of these of rival

Verizon Communications

(VZ) and the

S&P 500

index. However that calculation doesn’t issue within the Warner inventory (WBD) acquired by AT&T holders.

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