Telephone and Data Systems, Inc.
|Company Name||Telephone and Data Systems, Inc.|
On November 4, 2022, TDS released its third quarter 2022 financial results, reporting that UScellular’s heavy promotional activity, including a free phone upgrade promotion, had failed to correct the Company’s postpaid churn rate and had substantially eroded the Company’s profitability.
On this news, TDS’s stock price fell $4.29, or 25.9%, to close at $12.28 per share on November 4, 2022, thereby injuring investors.
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