AT&T, Mattel and Hertz Global to annual lows on Thursday as market pressures and Wall Street caution triggered a selloff in the companies.
- T stock slumped to a 52-week low but recovered to close up about 0.49% on Thursday as the company has recently come under pressure after reports of SpaceX’s direct-to-consumer mobile expansion.
- MAT stock slumped nearly 3% at close amid competitive pressures and lowered consumer spending.
- HTZ stock closed down more than 3.6% amid concerns over its rising vehicle depreciation costs.
Shares of AT&T Inc. (T), Mattel, Inc. (MAT), and Hertz Global Holdings Inc. (HTZ) slumped to annual lows last week amid challenging market conditions and Wall Street caution that weighed heavily on the companies.
T stock slumped to a 52-week low but recovered, closing up about 0.49% on Thursday. The telecom giant’s stock came under pressure last week after reports on Elon Musk’s direct-to-consumer mobile expansion triggered a sell-off.
MAT stock slumped nearly 3% at close amid competitive pressures and lower consumer spending, while HTZ closed more than 3.6% lower amid concerns over rising vehicle depreciation costs.
Markets were closed on Friday for U.S. Independence Day.
AT&T Falters On SpaceX Threat
Shares of the telecommunications company slumped to a fresh annual low of $19.89 on Thursday but recovered slightly, closing in the green.
AT&T took a hit alongside other telecom companies last week, with the stock slumping more than 9%, its steepest weekly drop in four years, after reports suggested that SpaceX was in talks with Charter Communications (CHTR) to partner on a consumer mobile phone offering. SpaceX’s Starlink, which currently has about 12 million subscribers, could pose a challenge to traditional carriers.
Following the reports, TD Cowen said that SpaceX’s Starlink would likely be an effective complement for mobile coverage for dead zones with its direct-to-device service, but added that “satellites fall short” for a true mobile experience. The analyst said that it was “cautiously optimistic” that the incumbent big-three carriers, including AT&T will not budge, while also noting that the SpaceX overhang “does not have an ending date” and “looks like it will unfortunately remain an overhang on wireless stocks,” as per TheFly.
“SpaceX will disrupt the $1.6T communications industry,” Oppenheimer analyst Tim Horan reportedly said in a client note in June, as per a Barron’s report.
T stock has declined more than 16% so far this year. On Stocktwits, retail sentiment slipped to ‘bullish’ from ‘extremely bullish’ levels at the time of writing.
Mattel Continues To Fall On Cautious Outlook
Mattel shares fell to a fresh 52-week low of $13.17 at close on Thursday, capping off three consecutive weeks in the red.
The toy maker has come under pressure after weaker-than-expected quarterly results amid an already cautious consumer spending environment.
In its latest earnings report in late April, Mattel’s first-quarter net sales grew 4% year over year, driven primarily by international markets, partly offset by a 3% decline in North America, reflecting weaker demand in key categories such as Barbie and Fisher-Price.
While the company posted a net profit of $61 million, gross margin declined and operating loss widened to $103 million due to tariff costs, unfavorable foreign exchange, inflation, and higher advertising spending. Mattel maintained its full-year 2026 guidance, noting 3%-6% expected sales growth, adjusted operating income of $580 million to $630 million, and adjusted earnings per share of $1.27-$1.39.
MAT stock has declined more than 33% in 2026, with retail sentiment dropping to ‘bearish’ from ‘neutral’ territory over 24 hours.
Hertz Slips Amid Rising Depreciation Concerns
Hertz stock fell to a fresh 52-week low of $2.09 as concerns about the company’s rising vehicle depreciation costs and weakness in the used-car market have triggered a sell-off.
HTZ stock has clocked eight consecutive sessions of declines after recording the worst monthly decline in June. The rental car company also slashed its second-quarter earnings forecast to a range of $50 million to $80 million, citing unexpected weakness in the used car market.
Last month, the company also completed a $350 million secured exchangeable notes offering, with an option to raise an additional $50 million, which it said would help boost liquidity and financial flexibility as it advances its turnaround efforts.
Following the updates, Morgan Stanley lowered the price target on the company to $3.50 from $5 and kept an ‘Equal Weight’ rating on the shares, citing higher depreciation per unit.
On Stocktwits, retail sentiment around HTZ stock slipped to ‘bullish’ from ‘extremely bullish’ territory over the past 24 hours. The shares have declined more than 59% this year.
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