Cord-Cutting is Worse Than Ever for Cable Providers like AT&T and Comcast
Is it time to ditch your TV stocks? TheStreet looks at how some of the biggest names in the business are dealing with a new generation of cord-cutters.
America's cord-cutting problem is worse than ever. This past week, AT&T reported that it lost 390,000 paid TV subscribers in its 3rd quarter. This has reignited the debate over whether on-demand consumption will kill TV stocks. There is some evidence that this may be the trend, with shares of AT&T (T) , Comcast (CMCSA) , Disney (DIS) and Time Warner (TWX) have all been down despite the broader market increases. It's not looking like it will get any better. Estimates from eMarketer show that 22 million adults will cut the cord by the end of the year. That's up dramatically from the 16.7 million last year.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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