The shares of the wireless giant have reached a new low in the market, being recorded at a share price of $46.1 as per last trading session’s activities.
Verizon Communication has been showing many weaknesses on the stock index for quite some time now and as per the recent business activities of the wireless giant, it has come around that a dip of around 2.93 percent has been recorded in the value of the Verizon shares, which has taken place in a matter of six days only.
The shares of the wireless business have shown this negativity due to many reasons and the analysts covering the firm’s activities do not seem to be very positive about the near term future. However, there still are some equity analysts who believe that the wireless carriers could be posting some positive signs in the future and that the investors should not be bothered by the current downfall the company is going through. Even though the past six days have been difficult for the firm, there definitely has been some positivity in line too as the shares have been upgraded on the index by 0.13 percent.
For the past week, the shares of Verizon business have gone up on the S&P 500 by a significant 3.02 percent which is something to be taken into consideration as well. Analysts have also pointed out the fact that for the past four weeks, the increase in value for the shares has been recorded at 5.66 percent.
Analysts who have shown interest to cover the stock activities of Verizon have come around to give the wireless firm a ‘buy’ rating for the upcoming week. This rating has been given to the firm due to the increasing potential the wireless company has been showing in the telecom industry making the analysts believe that its shares are worth a buy for new investors as well as old ones.
On Friday, shares of the company were seen to experience a huge dip, going down by 1.66 percent which brought about an eminent change in the value of the stock. The opening price of the shares was noted down at a value of $46.45 and by the end of the trade that took place on the same day, the value fell down to $46.1, which was also the lowest point that the price of the shares reached throughout the day.
As for the 52 week high value of Verizon, the value has been now recorded at $51.73 whereas the lowest that the stock is expected to touch, according to analysts, is a price of $45.09. The stock of the firm has shown quite a lot of potential in the past few months which is why analysts are of the opinion that this trend is going to be continued in the future as well.