Why Verizon Shares Are Falling

Verizon Communications Inc. VZ shares are trading lower by 3.7% at $50.96 Wednesday afternoon in sympathy with AT&T Inc. T, which issued FY22 guidance below consensus estimates.

The stock is also lower amid overall market weakness as investors weigh the FOMC decision.

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Verizon has a 52-week high of $59.85 and a 52-week low of $49.68.