Why Comcast Stock Dropped 15.1% in April
Shares of Comcast (NASDAQ: CMCSA) dropped 15.1% in April, according to S&P Global Market Intelligence. The media and cable conglomerate reported its first-quarter earnings, which came in above expectations, but investors still decided to sell off the stock toward the end of the month. Compared to the S&P 500, which was down 8.8% in April, Comcast trailed the index by 6.3% in the period.
Comcast is an entertainment and telecommunications conglomerate with a market capitalization of $179 billion. It owns a broadband internet/cable business, NBC Universal, Sky Entertainment, and many other assets.
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Source Fool.com
