Sprint Stock News
Sprint shares have suffered an ugly drop, and employees are feeling the pinch. A year ago, the Overland Park-based company handed out free Sprint shares to all its employees.
The rank and file, some 27,000 strong, collectively to call their own. Top executives picked up more than $130 million worth of shares. All of it was a promised payoff under a plan to give employees an extra reason to help with the company’s turnaround.
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Current Sprint Stock News
The payoff came because the stock’s price had climbed from about $6.50 at the time of the promise in September 2016 to $8 a share last March. Shares climbed largely on headlines that. Its Tokyo-based parent company, SoftBank Group Corp., might buy rival T-Mobile to merge with Sprint, do a deal with a cable company or even. Sprint’s lower stock price reflects its prospects as a standalone wireless carrier, said Vivek Stalam, an analyst at New Street Research. “It’s tough to be super positive on the business Sprint has today. They’re sort of reinvesting in it, but that payoff takes time,” Stalam said.