American Tower ($AMT): Stock Fueled By Demand And Acquisitions
This post was originally published on Andy Nyquist’s SeeItMarket.com
American Tower ($AMT) is a $45B wireless infrastructure provider with cellphone towers located across the world. Last year, the company acquired 11,448 wireless communication sites from Verizon, pushing their total to north of 100,000. More recently in a $179M deal with Bharti Airtel, the real estate investment trust acquired 1,350 towers to expand their presence in Tanzania. And these deals could help push American Tower stock much higher.
Let’s take a look at both the technical and fundamental backdrop for the AMT.
American Tower Stock Chart ($AMT) – Technical Analysis
For nearly a year and half, American Tower stock traded in a $20 range ($83-$103), but its share price is now breaking out of that range to all-time highs.
The setup is very similar to 2014 and the massive rally that ensued. American Tower stock rallied … Read More »