Should you sell your T-Mobile stock?
SIA Wealth Management chief market strategist Colin Cieszynski said T-Mobile (T-Mobile Stock Quote, Chart, News, Analysts, Financials NASDAQ:TMUS) has largely been left behind during this year’s market rotation, with the stock drifting lower since the spring as capital moved out of defensive names.
Speaking on BNN Bloomberg’s Market Watch on Oct. 2, Cieszynski noted the stock was trading near US$258.00 in March but has since fallen to around US$230.00, down roughly 11%.
“At the time when I was here at the end of March, the market was still going down,” he said. “It was still tanking. And what was at the top of the rankings at that point was defensive stocks. Then President Trump came along in early April, delayed the tariffs. And the market hasn’t looked back since.”
He said that shift triggered a rotation away from defensives and into cyclicals, momentum, technology, communications and precious metals.
“What we saw with T-Mobile was basically it’s just not done much. It hasn’t gone down. It just hasn’t gone up,” he said.
Cieszynski added that SIA Wealth exited T-Mobile from its portfolios in the spring as capital rotated elsewhere. Looking ahead, he expects the stock to “grind sideways, maybe a little higher” unless investors turn defensive again.
“This one’s kind of been left behind at the moment,” he said.
T-Mobile shares have gained 11.91% over the past 12 months and closed Oct. 2 at US$230.14.
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Rod Weatherbie
Writer
Rod Weatherbie is a journalist based in Prince Edward Island. Since 2004, he has written extensively about the Canadian property and casualty insurance landscape. He was also a founder and contributing editor for a Toronto-based arts website and a PEI-based food magazine. His fiction and poetry have been featured in The Fiddlehead, The Antigonish Review, and Juniper.