Not Just A Yuppie ToyPeter Coy
When the U.S. economy plunged into recession in 1990, stocks of cellular phone companies were not far behind. Shares of McCaw Cellular Communications Inc. lost two-thirds of their value between June and October. Contel Cellular Inc. fell 54%, and Metro Mobile CTS Inc. lost 64% over the same period. The problem? Investors worried that cellular phones weren't much more than yuppie toys and would be among the first luxuries jettisoned in the downturn.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.