T-Mobile Stock Slides as Subscriber Growth Disappoints

Wireless network stock T-Mobile US Inc (NASDAQ:TMUS) is down 9.2% at $238.17 at last glance, brushing off better-than-expected first-quarter earnings and revenue after disappointing subscriber growth. The company added 495,000 monthly bill-paying customers, outperforming AT&T (T) and Verizon (VZ), but the figure fell short of analysts' estimated 506,400. 

The 160-day moving average, which TMUS hasn't dropped below since October 2023, lingers just below as support for today's bear gap. Moving further from its March 3 record high of $276.49, the shares are now down 8.2% year-to-date. 

In the options pits, TMUS has seen 8,179 calls and 17,000 puts exchanged so far, which is more than double the average daily options volume already. The weekly 5/2 227.50-strike put is the most active contract, followed by the 235-strike put in the same series, with new positions opening at both. 

On the analyst front, the only firm to chime in after the event was RBC Capital, which raised its price target to $265 from $260. Of the 30 analysts in coverage, 19 carry a "buy" or better rating, while the 12-month consensus price target of $269.68 sits at a 14.2% premium to current levels (though it's a small discount to last month's record highs).