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Why Cable and Telecom Stocks Were Soaring Today
Story by Billy Duberstein • 4d • 3 min read
The Affordable Connectivity Program (ACP) is alive
Yesterday, a bipartisan group of Senators introduced an amendment to the 2024 Federal Aviation Administration (FAA) Reauthorization Act, which would provide roughly $6 billion in funding toward the Affordable Connectivity Program (ACP), along with another $3 billion to "rip and replace" equipment from Chinese telecom equipment providers ZTE and Huawei.
Telecom and cable stocks have been facing headwinds, as the current ACP, which provides a $30 per month broadband subsidy to low-income households, is in its final month of funding. Thus far, Congress has balked on continuing to fund the program or find room for it in the federal budget. If the subsidy were to go away, some 23 million households would either not pay their bills or pay only a portion to their current broadband provider, creating a big risk for those providers.
But late Tuesday, a bipartisan group of six Senators introduced an amendment that would attach the ACP to the FAA Reauthorization Act, which must be passed at some point.
Notably, the amendment is a modified form of the ACP bill that was shot down earlier this year. It shrinks the subsidy by about $1 billion from $7 billion to $6 billion, lowering the wage threshold for subsidy qualification while also implementing measures meant to curb waste and abuse.
On their recent conference calls, Charter, Comcast, and Shenandoah all referred to the expiration of the ACP as a potential risk for elevated churn in the upcoming second and third quarters. Charter noted it had 5 million ACP customers out of its roughly 30 million (or 17%) residential relationships. Comcast has about 1.4 million ACP recipients out of about 31.6 (4.4%) million residential customers. And Shenandoah said it had less ACP exposure than large players, at less than 4% of its customer base.
Therefore, should the program be revived, that would be a relief to all these companies' financials. It's a bit curious that Shenandoah is up much more than the others, given its lower proportion of ACP customers. But Shenandoah is a much smaller company at just a $900 million market cap, and positive or negative news tends to have an outsized effect on smaller-cap companies. Shenandoah had also seen its stock essentially cut in half in just the past five months or so. So, it was perhaps due for a bounce on any good news.
SURG looking strong......looking forward to earnings!!!!!!
$SURG gaps at $2.12 & $1.88: $SURG on its way back down to fill.
The federal government should just force the telcom/ISPs to provide no-cost or very very low-cost internet. Back in the new internet day corporate America was looking to cover internet as free for everyone, to get America online. It certainly can do it for low-income Americans.
Internet was created by the govt. Now, $50/month base for internet is standard corporate rip-off provided by initial govt handout. Yes, networks were built yet efficiencies lead to lower costs, not higher costs that we experience. Further, govt is reliant upon the quasi-private ISP networks and network operators to deliver all internet traffic and much data to the govt.
The Affordable Connectivity Program (ACP) is yet another corporate giveaway, evidenced clearly by scam SurgePays, Inc. raking in millions in revenue on internet infrastructure it does not own or operate. That's waste and abuse as fueled by govt spending.
Rather, simply have govt force the hand of public/private ISPs and telcoms to provide free or very very low-cost internet to those eligible for the ACP program. Corporate can absorb the costs just fine.
SurgePays, Inc. an OTC scam company without ACP proves ACP is a waste of govt money.
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Thurs last chance for ACP vote link... https://broadbandbreakfast.com/discharge-petition-on-fate-of-7-billion-acp-now-active/
Coxy gunna have to find another GOV program to scam...whoopsie!
Whoopsie! SURG heading higher.........load them up!
I suppose Nasdaq wasn't presented SurgePay's cooked books where the CFO resigned because he refused to sign off on the 10-K.
It does seem like Nasdaq lists scams with some frequency where previously it had appearance of integrity.
Maybe Nasdaq lamented when days later after the new listing all that fraudulent SurgePays naked short selling washed money through 18.5 X the entire SURG outstanding in a day.
Why ask to rehash it? That's weird.
IF it was a SCAM, then how was it upgraded up to the NASDAQ? lolzzzzzzzzzzzz
So just trade. You don't deny SurgePays is-a scam!
SURG moving up again! Nice loading under $4.00 again! lolzzzzz
Even Maxim, SurgePays's financier, changed $SURG from buy-to-hold rating.
Now notice how Ascendiant Capital scammers today rated SURG a buy even with the national Affordable Connectivity Program ending full ACP payments this month. Does scammy Ascendiant Capital have inside knowledge to know that the ACP will be refunded?
Funny, because Ascendiant 11 months ago did the exact same buy price target adjustment from $11.50 to $10.00. Looks like scammers just republished year old news as if it is new.
If ACP does get refunded, watch your short.
Without ACP, SurgePays is a short sell, where SurgePays, Inc. will continue to go right back to its lame misleading books cooking OTC type company.
https://www.sec.gov/news/press-release/2021-24
SURG looking Good! Another load well under $4.00, Easy double!!!!!
Weak hands buy the downtrend.
Booooooom!!!! Love weak hands!!!!!! Easy double! lolzzzzzzzz
Reloaded under $4.00!!! Weeeeeeeeeeeeeee
NASDAQ stocks are the best!!!!!!!!!
$SURG back below pre-Nasdaq price levels.
Coxy siphoning $4,758,088.74 in 33 monthly payments. That’s $144,184 per month for 33 months. That’s for a while back selling his regulatory in legal trouble True Wireless company for just $10.00 and Coxy got tons of $SURG shares.
$SURG gap below at $2.12. And at $1.88.
Now that $5s then $3s hit, trend-line broken, support broken, $SURGIE has no real support now until low $2s.
Never buy a stock that the Institutional holding are only 7%...they know the scams!
https://finviz.com/quote.ashx?t=SURG&ty=c&ta=1&p=d
$3.75... just another $3 down to go! whoopsies!
Headed back to OTCBB...cook the books!
I may start to cover shares around .75 cents... maybe
Here come the $3's... shareholders now very underbanked! whoopsies!
Last $4.16 Still short from $9.20 !!! I love Coxy Woxy!
SO glad I shorted this @ $9.20...easy money when you understand this scam!
Insiders and employees all dumping and shorting!
Thanks for the cheap entry read this wow https://clearline.me/service/marketing-automation-2/
Coxy and his cronies all shorting SURG is a sign the end is near!
Maxim Group Downgrades SurgePays Inc. (SURG) to Hold from Buy.
https://www.streetinsider.com/dr/news.php?id=22923617
SURG down 30% seems many shareholders have downgraded SurgePays, Inc. to a Sell.
ACP govt socialism for corporations, masked as assistance to low-income folks.
Congress should pass a bill forcing without compensation (at minimum without profit) the Internet Service Providers and the MNVO's to provide no-cost internet to U.S. households living near the poverty line.
Govt just wants as many as possible on internet to track and categorize them, as performed through shareholder owned corporations, who then also obtain and exploit the data. All internet traffic gets directed to govt entities (e.g. the NSA).
Proof of government's corporate socialism is all the profit SurgePays acquires from government handout money.
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After hours $7 to $5.50 dump.
Wow, that SurgePays ParichuteConnect deal, huh?
How's that working out?
10-Q update? on that SurgePays ParichuteConnect deal you touted here?
Creepy ParichuteConnect.
ACP shut down because scammers and lowlifes made a living off the underbanked!
3-days-straight close under-50-dma. $SURG-is-a-short. Back-to-$5,-then-$3.
Lies-don't-cover-fact-that ACP stopped taking new applications a month ago.
And that current ACP enrollees are slated to have their ACP subsidy stop at or near the end of April, 2024.
That's in a month and a half.
Thousands and thousands of SurgePays ACP customers will lose their free service, and will drop their SurgePays broadband.
That's a lot of bill collecting and customer service hassle SurgePays will have to deal with when those folks also get billed the full cost instead of $0 a month.
Where is guidance from SurgePays, Inc.?
"The ACP Is Winding Down
The Affordable Connectivity Program stopped accepting new applications and enrollments on February 7, 2024. The last fully funded month of the program is April 2024."
https://www.fcc.gov/acp
FCC: April is last month for Affordable Connectivity Program payments
https://www.msn.com/en-us/news/politics/fcc-april-is-last-month-for-affordable-connectivity-program-payments/ar-BB1jnF3D
oh, those unprofitable other money streams? those ones? this scam lucked out with ACP, and then a congressman had to stop by to either cover for SurgePays, Inc.'s massive number of FCC violations or to see what the scam company is about.
think about it, that SurgePays would give you my cell phone number with my SurgeWireless customer account information so that you could then call to harass me each time I posted here.
Funny, as the company has multiple money streams.......nice try though. lolzzzzzzz
Does not matter. Brief hold until funding, of which Congress passed a bill today! lolzzzzzzzzzzz, there is no chicken little with sky falling......market reflects such today.
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Moderators bUrRpPPP! SurgeGuy2.0 StockItOut |
Q1 and Q2 'Massive' Revenue Increased solely due to
share-dilution purchase acquision of ECS Marketplace.
ECS Marketplace was purchased Sept 30, 2019.
So, year-to-year Quarterly revenue increases from ECS are over.
In fact, ECS already has lower revenue by $10 Million annually,
than when as claimed at purchase on Sept. 30, 2019.
ECS Marketplace is a money losing operation!!
ECS Marketplace, since acquisition, has always been a
money losing operation for Surge Holdings!!
_________
Surge Holdings Inc. files its SEC filings to say:
"At the level of operations, the Company has to borrow funds
to meet basic operating costs."
__________
This Section is Maintained by SurgeGuy 2.0
WARNING
The Above Information in this Box are based on Lies against the CEO. An easy Google search will confirm the CEO was never convicted of Fraud or anything else....in fact, the Government had to drop the case and apologize!!!!! The other fact is the lies that the company lies on the financials, yet every 10K is audited and SurgePays was up-listed to NASDAQ!!! Despite posts claiming they never applied....
FACTS!!!
SurgePays has increased revenue over the past 2 years by over 300%!!!!!!
SurgePays is listed on the NASDAQ!!!
SurgePays O/S is only around 12.5M shares
SurgePays has over $12M in cash on hand and has retired all debt!!!!
Revenue continues to grow and will be about 3 times the current market cap!!!!!
First year evaluation has the price per share at $6.63!!!!!!
This section maintained by SurgeGuy 2.0
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