Benzinga | Nov 5, 2021 09:15AM EDT

Why Verizon And AT&T Shares Are Falling

Verizon Communications Inc. (NYSE:VZ) and AT&T Inc. (NYSE:T) shares are trading lower following reports indicating the companies agreed to delay the 5G rollout following FAA concerns about potential interference with airplane safety systems.

The two companies agreed to delay the launch of 5G for about a month so they can work with the Federal Aviation Administration to address concerns about potential interference with key cockpit safety systems.

Verizon Communications Inc. offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide.

Verizon's stock was trading about 2.7% lower at $51.52 per share on Thursday at the time of publication. The stock has a 52-week high of $61.95 and a 52-week low of $50.86.

AT&T Inc. provides telecommunication, media, and technology services worldwide. The company operates through Communications, WarnerMedia, and Latin America segments.

AT&T's stock was trading about 2% lower at $24.69 per share on Thursday at the time of publication. The stock has a 52-week high of $33.88 and a 52-week low of $24.54.