Earlier today, there were some unusual developments at T-Mobile, with reports of additional staff being brought in to call centers and Store Managers required to spend extra hours at each location. This has led to speculation about a potential unpopular announcement, such as a price increase, that might cause customer backlash.
Some T-Mobile employees on Reddit have confirmed these actions, causing anxiety among both employees and customers. This level of concern has not been seen since former CEO John Legere’s time, who played a significant role in elevating T-Mobile to its current position as the second-largest wireless provider in the US.
The main reason behind these drastic measures seems to be a potential price hike on legacy postpaid plans. Adding fuel to the fire, T-Mobile CEO and President Mike Sievert recently sold a substantial amount of his T-Mobile shares, totaling $6.5 million. Despite this move raising eyebrows, it’s essential to note that Sievert had set up a trading plan back in November 2023 for selling shares at specific intervals, eliminating any suspicion of insider trading.
Furthermore, Sievert still retains a significant number of T-Mobile shares, with the recent sale accounting for only 8.4% of his total holdings. This indicates that he remains heavily invested in the company’s success and would be impacted if any negative news were to affect T-Mobile. The rumored price increase for legacy postpaid plans is unlikely to cause a mass exodus of customers or drastically impact the company’s stock value.
Although the motives behind T-Mobile’s recent actions remain unclear, it’s crucial to understand that Sievert’s stock sale was part of a pre-established plan and not related to any impending announcements. Despite the uncertainty surrounding these events, T-Mobile’s stock price actually increased by 46 cents today, reaching $164.36.
As we await further developments from T-Mobile this week, it’s essential to approach these situations with caution and avoid jumping to conclusions based on limited information. Stay tuned for updates on how these changes may impact customers and the telecommunications industry as a whole.
