Here's Why AT&T Stock Plunged Today

·2-min read
Here's Why AT&T Stock Plunged Today

Shares of AT&T (NYSE: T) fell 5.8% on Tuesday as shareholders reacted to the likelihood of substantially reduced cash payouts from the media titan following the pending spinoff of its WarnerMedia business. AT&T announced on Monday that it intends to merge its WarnerMedia assets with Discovery to create a new streaming-focused company. In return, AT&T stands to receive $43 billion, which it will use to reduce its sizable debt load.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting