Telstra, never been cheaper
March 2, 2010
Concerns about the National Broadband Network reported earlier today have seen Telstra Corporation Limited's (TLS) shares hit a low of $2.90. Shares in Australia’s largest telco have never traded for less.
One month ago Telstra’s shares were trading at $3.44, a fall of 15% in February on the back of disappointing earnings and an unflattering outlook for the telco which has seen landline rentals slump and increased competition in the mobile and internet space.
The company, which first listed in 1998, hit an all-time high of $9.20 early the following year.
At the depths of the global financial crisis, Telstra shares touched $2.93 on 19 March 2009 before recovering to around $3.65 in August last year.
At today’s prices, Telstra has a market capitalisation of $36 billion, placing it between retailers Woolworths ($34 billion) and Wesfarmers ($37 billion).
Woodside, by comparison, has a market capitalisation of $33.7 billion.
One month ago Telstra’s shares were trading at $3.44, a fall of 15% in February on the back of disappointing earnings and an unflattering outlook for the telco which has seen landline rentals slump and increased competition in the mobile and internet space.
The company, which first listed in 1998, hit an all-time high of $9.20 early the following year.
At the depths of the global financial crisis, Telstra shares touched $2.93 on 19 March 2009 before recovering to around $3.65 in August last year.
At today’s prices, Telstra has a market capitalisation of $36 billion, placing it between retailers Woolworths ($34 billion) and Wesfarmers ($37 billion).
Woodside, by comparison, has a market capitalisation of $33.7 billion.
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