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Why T-Mobile Stock Fell Today
Shares of telecom leader T-Mobile US (NASDAQ: TMUS) sank as much as 4.6% today, before rebounding to a 4% decline as of 1 p.m. ET.Shares fell on news that major investor SoftBank sold a large block of T-Mobile shares. However, looking at SoftBank's other business endeavors, it's probably not too much of a concern for T-Mobile shareholders.Today, Bloomberg reported that SoftBank sold about $4.8 billion shares of T-Mobile, totaling 21.5 million shares at a price of $224 per share. That's about a 3% discount to T-Mobile's closing price yesterday. Often, when an investor wants to sell a large block of shares quickly, that investor will have to sell at a discount to move that much stock.Continue reading
Shares of telecom leader T-Mobile US (NASDAQ: TMUS) sank as much as 4.6% today, before rebounding to a 4% decline as of 1 p.m. ET.
Shares fell on news that major investor SoftBank sold a large block of T-Mobile shares. However, looking at SoftBank's other business endeavors, it's probably not too much of a concern for T-Mobile shareholders.
Today, Bloomberg reported that SoftBank sold about $4.8 billion shares of T-Mobile, totaling 21.5 million shares at a price of $224 per share. That's about a 3% discount to T-Mobile's closing price yesterday. Often, when an investor wants to sell a large block of shares quickly, that investor will have to sell at a discount to move that much stock.
