SK Telecom Co. Ltd. (SKM) has risen sharply, recording gains of 1.27% in the past 4 weeks. However, the stock has corrected -1.15% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 0.88% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
SK Telecom Co. Ltd. is up 14.23% in the last 3-month period. Year-to-Date the stock performance stands at 11.17%. The stock has recorded a 20-day Moving Average of 0.97% and the 50-Day Moving Average is 4.46%.
SK Telecom Co. Ltd. (NYSE:SKM): The stock opened at $22.40 on Friday but the bulls could not build on the opening and the stock topped out at $22.41 for the day. The stock traded down to $22.23 during the day, due to lack of any buying support eventually closed down at $22.40 with a loss of -2.48% for the day. The stock had closed at $22.97 on the previous day. The total traded volume was 610,626 shares.
Also, Equity analysts at the Brokerage firm HSBC downgrades its rating on SK Telecom Co. Ltd. (NYSE:SKM). The rating major has initiated the coverage with hold rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on April 27, 2016.
SK Telecom Co., Ltd. is a wireless telecommunications service provider. The Company offers the following core services: Cellular voice services; Wireless data services; Broadband Internet, Internet Protocol television (IPTV) and fixed-line telephone services, and New businesses. The Company provides wireless voice transmission and wireless global roaming services. The Company also provides wireless data transmission services, including wireless Internet access services, and text and multimedia messages. The Companys subsidiary, SK Broadband provides broadband Internet access service and other Internet-related services, including video-on-demand and IPTV services. The Company also provides local, domestic long-distance and international long-distance fixed-line telephone services to residential and commercial subscribers. Its new businesses include platform business, business-to-business (B2B) solutions business, healthcare business and other businesses.