Blue Label Telecoms Slide Again, Dropping More Than 7%

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Honor 9 Lite and Honor 7X smartphones
Honor 9 Lite and Honor 7X smartphones

Trading on JSE-listed telecoms firm Blue Label Telecoms on Wednesday signaled another tough day.

The stock plunged 7.16% at R5.45 pushing its market capitalisation lower to R5.2 billion.

Blue Label Telecoms Share Performance
Blue Label Telecoms Share Performance. Google

The share price has been hard hit in the past few months. For more read: Blue Label Telecoms Shaves Off Close To R1 Billion In Market Value and Blue Label Telecoms Shares Are Tanking

The JSE Telecom index also continued its losses was trading slightly lower by 0.16% at 4,491.61 points.

MTN  Share Performance. Moneyweb
MTN Share Performance. Moneyweb

While, Vodacom – South Africa’s biggest mobile phone operator – was slightly up 0.25% at R123.51 and rival MTN was also up 0.44% at R73.38.

Vodacom Share Performance. Moneyweb
Vodacom Share Performance. Moneyweb

Also read: R219 Million Paid To Three Top Execs At Cell C In 2017

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