NEW YORK, July 5, 2026, 12:01 (EDT)
- Verizon NYSE:VZ dropped 8.6% in the week through July 2, which was shortened by the holiday. The S&P 500 added 1.8% over the same period.
- Verizon traded 232.1 million shares over four sessions after being dropped from the Dow, more than double the previous four-session volume, according to WSJ data.
- Coming up for the stock are Verizon’s ex-div date on July 10 and second-quarter results July 24. Telecoms still have overhang from SpaceX mobile risk.
U.S. stock markets were closed Friday, July 3, for Independence Day. For Verizon Communications Inc. NYSE:VZ, Thursday marked the last cash-market close. The NYSE shows July 3 as the observed 2026 Independence Day holiday.
The drop isn’t the only story here. Verizon was dropped from the Dow Jones Industrial Average after S&P Dow Jones Indices said its low share price meant the stock made up just half a percent of the price-weighted index. Over the next four sessions, Verizon traded 232.1 million shares, sliding 8.6%. That’s a big swing for a stock just called “almost immaterial” to the Dow. News Release Archive
WSJ data shows Verizon ended June 26 at $46.54 and dropped to $42.56 by July 2. AT&T Inc. NYSE:T finished those days at $22.72 and $20.58. Investing.com figures had T-Mobile US Inc. NASDAQ:TMUS down from $182.68 to $177.52. AP reported the S&P 500 (INDEXSP:.INX), Dow Jones Industrial Average (INDEXDJX:.DJI) and Nasdaq Composite (INDEXNASDAQ:.IXIC) all rose this week, up 1.8%, 2.0% and 2.1%.
| Market gauge | June 26 close | July 2 close | Week move |
|---|---|---|---|
| Verizon NYSE:VZ | $46.54 | $42.56 | -8.6% |
| AT&T NYSE:T | $22.72 | $20.58 | -9.4% |
| T-Mobile US NASDAQ:TMUS | $182.68 | $177.52 | -2.8% |
| S&P 500 (INDEXSP:.INX) | 7,354.02 | 7,483.24 | +1.8% |
| Dow (INDEXDJX:.DJI) | 51,876.11 | 52,900.07 | +2.0% |
| Nasdaq Composite (INDEXNASDAQ:.IXIC) | 25,297.62 | 25,832.67 | +2.1% |
Four-day turnover paints a clearer picture than the index move. Verizon’s average volume hit 58.0 million shares a day between June 29 and July 2, compared to 26.0 million daily for the previous four sessions. This wasn’t just passive index adjustment—big holders sold in size even as the broader market climbed.
Sector pressures played a part. Reuters said on June 27 that Space Exploration Technologies Corp. NASDAQ:SPCX and Charter Communications Inc. NASDAQ:CHTR have talked at the executive level about a U.S. consumer mobile phone tie-up, according to Bloomberg News. Charter told Reuters it had no comment. SpaceX did not respond right away.
MarketWatch reported July 2 that the overhang from SpaceX on the telecom sector could stick around into next year, according to an analyst. BNP Paribas analyst Sam McHugh said the overhang “may well persist” in a note to clients, the story said. MarketWatch
Verizon gave its stock a new test after announcing a 50-50 international enterprise joint venture with BT Group plc (LON:BT.A). The two companies said the venture has about $4 billion in combined annual revenue, over 3,000 customers, and operations in more than 180 countries. Verizon will send a $625 million equalisation payment to BT.
BT CEO Allison Kirkby told Reuters the market is very fragmented and said this deal could set off more consolidation. She added that third parties might come in down the line. Verizon’s Dan Schulman called the joint venture “the clear answer” for global customers that need secure cross-border cloud connections. Reuters
Verizon shareholders are looking at a cash argument almost on par with holding the stock. The company lists a $0.7075 dividend for the quarter, with both the ex-dividend and record date set for July 10 and a payment date coming up Aug. 3. With Verizon closing at $42.56 on Thursday, that puts the yield at 6.65%.
| Verizon checkpoint | Data | Why it matters |
|---|---|---|
| Former Dow weight | 0.5% | The index change didn’t have much direct impact, but the share move was bigger. |
| Four-session post-deletion volume | 232.1 mln shares | That’s 2.2 times what traded the four days before. |
| July 2 close | $42.56 | This was the last regular session price ahead of the holiday. |
| Implied annual dividend yield | 6.65% | The lower share price is what income buyers now see before the ex-date. |
| Q2 earnings | July 24, 8:30 a.m. ET | Verizon’s next report is after the dividend cut-off. |
SpaceX is on track to join the Nasdaq 100 this week, Investopedia said Sunday. The change is set for before the open on Tuesday, adding another angle to index reshuffling. More funds will get exposure to SpaceX, now seen as part of the telecom-disruption theme.
Verizon said it’s set to release second-quarter earnings Friday, July 24. Materials are scheduled for 7:00 a.m. ET, and the company’s webcast starts at 8:30 a.m. ET.
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