‘s April choice to parcel out its big interest in
Warner Bros. Discovery
to all shareholders, rather than offering them the alternative of receiving an equivalent total of the phone company’s inventory, has turned out to be a lousy shift for traders. Warner stock has dropped sharply.
AT&T shares (ticker: T), which ended Tuesday at $18.02, are down just 1% because the spinoff on April 8, topping the returns of people of rival
(VZ) and the
index. But that calculation does not issue in the Warner inventory (WBD) been given by AT&T holders.