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BCE Stock Takes A Tumble After Year Of Layoffs & Turmoil
I'm not sure who this analyst is, but I know next to zero about the stock market, so for the moment I'll take his word for this: BCE is having a justifiable comeuppance, after years of mistreating both investors, employees and the general public.
This is a pretty scathing assessment of whether anyone should invest in the company (avoid it like the plague is his summary) which has taken major hits over the past year. Among the warning signs - the massive layoffs, the sell off of 45 radio stations, the closure of nine others and the fact the company blames government regulations for its ongoing woes. But this author suggests they should just look in the corporate mirror.
"Poor management decisions over several years have resulted in BCE experiencing a situation not too dissimilar to what AT&T and Verizon Communications went through due to their expensive forays into the media business. Now, BCE is trying to wriggle out of what has become a financial black hole.
In 2023, advertising revenue from its Bell Media subsidiary fell by CAD$140 million (8.6%) over a year earlier, resulting in more than CAD$40 million in operating losses by the division in the past year...
Regulatory decisions have only enabled BCE to rob Canadians blind. Its management is to blame for its stock’s terrible performance over the past decade."
BCE Hits a Well-Deserved 24th 52-Week Low in the Past Year
- Shorty Wave
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Re: BCE Stock Takes A Tumble After Year Of Layoffs & Turmoil
I, like many industry professionals, thought that BCE acquiring Astral in 2013 was a bad move as the internet was already proving itself to be competition to then conventional broadcasting, plus they paid a hefty price for it. Don’t forget that they had already acquired CHUM a few years before Astral. Pure greed is what it comes down to, pure greed and a lack of forward thinking. Stew in their own juices I say! And don’t get me started about Bibic, over paid and overrated.
- Tomas Barlow
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Re: BCE Stock Takes A Tumble After Year Of Layoffs & Turmoil
I’m glad that analyst is countering BCE’s claims that regulation has caused some of their trouble. That analyst is basically saying regulations have only helped Bell do what it wanted to do, and that is screw its customers.
At some point you need customer satisfaction to be part of your strategy. Appeasing shareholders to the detriment of all of the other aspects of your business isn’t a solid long-term plan. Eventually your products and services have to not suck.
- pinto
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Re: BCE Stock Takes A Tumble After Year Of Layoffs & Turmoil
Well it's still a mix of Hold and Buy and is up so far today. Dividend chasers don't care, give me my 6+% income.