T-Mobile US Inc (TMUS)

Shares of T-Mobile US Inc (TMUS) dropped by 6.92% from $1.30 to $1.21 in the trading on Friday, June 02, 2023. The reason why TMUS is down today is due to rumors that Amazon (AMZN) was considering offering low-cost or free wireless phone services to Amazon Prime subscribers, potentially posing a threat to traditional telecom companies. Reports also suggested a partnership with DISH Network (DISH), which could benefit DISH's 5G service. Although Amazon denied these rumors, they led to investor concerns and negatively impacted TMUS's stock.