What you need to know about Charter Communications stock, as the stock falls 10%
By MICHAEL PELLETTNEW YORK — As the world’s largest telecom company looks to grow its subscriber base and boost profits, a new stock listing on Bloomberg suggests Charter may not be as profitable as investors believe.
The New York Stock Exchange listed Charter Communications Inc. on Tuesday, but it did not say how much the company paid for the listing.
It said it would list Charter on Wednesday.
The company’s shares have fallen by nearly 10% since a year ago.
Charter’s stock is down almost 15% in the past year, and it has lost about a third of its value since the start of the year.
Charter shares closed down 3.5% at $59.83 at 11:54 a.m. ET.