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Why AT&T Rose 11% Last Month
Shares of AT&T (NYSE: T) rose 12.9% in May, according to data from S&P Global Market Intelligence, after the telecom giant announced it was raising prices on its older wireless plans for the first time in years. The price hikes do not affect AT&T’s newest Unlimited plans. Although analysts worry that AT&T’s increases could cost it customers who might switch to T-Mobile or Verizon as the industry has long competed by offering customers discounts, the carriers are not immune from rising costs in this inflationary period.
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