Posted 10/6/2023, 8:50:27 PM
Verizon Stock Drops as Rising Rates Weigh on Debt-Laden Telecom Giant
- Verizon stock dropped due to continued increase in interest rates and government bond yields
- Higher interest rates affect Verizon due to its high debt load and need to refinance at higher rates
- Investors have other high yield options besides Verizon stock with rising bond yields
- Verizon faces questions about stagnant revenue and margin pressure hurting cash flow
- Upcoming Q3 earnings on Oct 24 will indicate if Verizon's cash flow is improving
