Why Dish Network Tumbled More Than 14% This Week
The stock is up as of midday Friday. But the relatively modest 4% gain for the day isn't nearly enough to unwind what will end up being a full-week loss of around 14% for Dish Network (NASDAQ: DISH) shares, according to data provided by S&P Global Market Intelligence. The bulk of the setback is driven by a major service outage suffered on Monday, although it's worth mentioning that the stock was already vulnerable following the previous week's lackluster Q4 report.
It was worse than it initially seemed.
Beginning roughly a week ago, certain aspects of Dish Network's service began failing. While most customers were able to continue watching cable television, reports of bill payment problems, unreachable call centers, and disrupted wireless phone networks (Dish also owns BoostMobile) soared.
Source Fool.com
