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Verizon Stock Tumbles. It’s on Pace for Its Biggest Decline Since the Pandemic Hit.

Verizon Communications’ first-quarter report won’t be changing any investors’ thesis on the stock.

The wireless giant continues to spend big on improving its 5G network to meet management’s promises for faster growth on the horizon. Things will need to accelerate from the first three months of 2022 to meet Verizon’s lofty targets for revenue and profit unveiled at an investor day in March. Management lowered guidance slightly for full-year 2022 profits and revenue.

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