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Markets · Investing · Business
Finance
Why Comcast Stock Plummeted on Wednesday
Investors were concerned about some remarks made by the company's CFO in a conference.
Entertainment giant Comcast(NASDAQ: CMCSA) wasn't looking so big on the stock exchange during Wednesday's trading session. Investors sold out of the company after digesting remarks from its CFO indicating weakness in certain aspects of its business. By the end of the trading day, Comcast's stock had lost almost 7% of its value.
Comcast, whose major asset is the sprawling NBCUniversal division (and within it, the Universal Studios theme parks), presented at the annual Goldman Sachs Communacopia + Technology conference. CFO Jason Armstrong updated attendees and other interested parties on the company's operations.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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