Why Cable and Telecom Stocks Were Soaring Today
Charter Communications(CHTR) The Motley Fool·2024-05-09 02:42
A left-for-dead government subsidy program appears to have been revived by a bipartisan group of Senators.Shares of cable telecom stocks Comcast (CMCSA 2.25%), Charter Communications (CHTR 4.12%), and Shenandoah (SHEN 11.48%) rallied on Wednesday, up 2.8%, 4.3%, and 9.8%, respectively, as of 1:15 p.m. ET, even as the broader markets were in the red.The entire industry got a lift today as a bipartisan group of Senators revived a key government subsidy program.The Affordable Connectivity Program (ACP) is aliv ...