Why Are Altice USA Shares Plunging Today?

  • Cable provider Altice USA Inc ATUS expects to lose 15,000 to 20,000 broadband customers this quarter, Bloomberg reports.
  • The company had 4.4 million internet customers at midyear and called the result “disappointing” at a Goldman Sachs Group Inc conference.
  • The pandemic accelerated broadband adds during the pandemic due to remote working and learning.
  • Price Action: ATUS shares traded lower by 13.30% at $21.91 on the last check Thursday.
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