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Saturday, May 28, 2022

Why shares of Verizon Communications Inc. (VZ) are soaring in premarket trading?

Verizon Communications Inc.(VZ) stock has gained 0.26% in Thursday pre-market session, as of this writing. VZ’s stock lost -0.75% to close Wednesday’s session at $58.15. VZ shares have risen by 8.23% over the last 12 months, and they have moved up by 2.00% in the past week.

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Let’s have a look at the recent news about Verizon.

First private 5G contract in Europe

on April 1, 2021, Verizon announced that it has signed an agreement with Associated British Ports (ABP) to deploy the first 5G mobile network at the Port of Southampton.

Port of Southampton is the largest ports for cars and cruises, handling about 900,000 cars and millions of cruise passengers annually.

New exciting offer from Verizon

On March 31 Verizon announced an exciting offer for the customers to trade in cracked or water damaged phone and get up to $1,000 off its best 5G phones with a port-in and select unlimited plans.

Offer is available from today April 1 for a limited time only andits not April fool, its true offer that customer will get some value for their damage devices as per the offer.

Schedule of first-quarter earning announcement

On March 25 Verizon said that it will report first-quarter 2021 earnings on Wednesday, April 21.The company will present results on a webcast beginning at 8:30 a.m. Eastern Time.

About Verizon

Verizon Communications Inc. (NYSE: VZ) was formed on June 30, 2000, and is one of the world’s leading providers of technology, communications, information, and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video, and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security, and control.

Conclusion: Minor ups and downs for a company like Verizon do not matter and it also does not bother investors. Looking at its record, investment in VZ stock is considered risk free investment.

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