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Why is Centuylink stock tanking today? down 12.14% just today....

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Posted: Oct. 31, 2016 - 12:10 PM ET #1

I know they are buying Level 3 communications and spending 34 billion (cash and stock) but dang why is it dropping so much in one day. It has been dropping a bit over the last week or so, but 12% so far today..

Captain

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Posted: Oct. 31, 2016 - 12:28 PM ET #2

https://www.fool.com/investing/2016/10/31/why-level-3-communications-just-jumped-and-century.aspx?source=yahoo-2-news&utm_campaign=article&utm_medium=feed&utm_source=yahoo-2-news&yptr=yahoo

All about the acquisition price.

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Posted: Oct. 31, 2016 - 1:41 PM ET #3

I figured so but dang, that's a heck of a drop in one day.

wallstreetcappers

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Posted: Oct. 31, 2016 - 2:47 PM ET #4

Yeah I think the market is not too happy with this potential transaction.

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