Sumary of What’s Stopping A Major Rally In Verizon Stock?:
- (Photo Illustration by Alex Tai/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Verizon stock (NYSE: VZ), which currently trades at a little below $56 per share, is still 9% below the levels seen at the beginning of 2020 and 4% below February 2020 levels, just before the coronavirus crisis.
- The segment contributed $16.7 billion to total revenue of $34.7 billion in Q4 2020. It is projected that wireless service revenue could grow another 3% in 2021 led by higher-priced unlimited plans.
- Doesn’t help that oil prices crash in mid-March amid Saudi-led price war Since 3/24/2020: S&P 500 recovers 90% from the lows seen on Mar 23, 2020, as the Fed’s multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system.