Eunice Bakr
All posts from Eunice Bakr
Eunice Bakr in Eunice Bakr,

Sprint stock yesterday dropped like a ton of bricks

Sprint stock yesterday dropped like a ton of bricks. 19% is the biggest drop in history. Here is what CNNMoney writes about it:

"The company was a hot financial mess after its disastrous 2005 merger with Nextel. It bet on the wrong 4G wireless technology (remember Wi-Max? No? Exactly). It had a jumbled mess of five incompatible networks. It had the worst customer service for ages.

Amazingly, that's all water under the bridge.Sprint has done a remarkable job turning itself around over the past few years under former CEO Dan Hesse's leadership. Sprint has improved its customer service, built a 4G-LTE network in record time, and amassed more wireless spectrum (the airwaves that cell phone data travel on) than any other carrier.

Yet Sprint still kinda sucks. Though its speeds are improving, Sprint still has by far the slowest 4G network of its rivals. It was rated the worst cell phone service in the nation byConsumer Reportslast year. And it continues to hemorrhage money and lose customers."