Welcome to our dedicated page for STRY news (Ticker: STRY), a resource for investors and traders seeking the latest updates and insights on STRY stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect STRY's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of STRY's position in the market.
Starry Group Holdings has announced its exit from the Columbus, Ohio market following the mutual termination of its strategic alliance with AEP Ventures. The decision, part of a broader reorganization, allows Starry to concentrate resources on five core urban markets: Boston, New York City, Los Angeles, Denver, and Washington, DC. Starry had previously built its network to cover over 350,000 homes in Columbus and expanded its digital equity program to nearly 3,000 affordable housing units. The decommissioning process will start in March and conclude by June, ensuring current subscribers are notified and provided alternatives.
Starry Group Holdings, Inc. (NYSE: STRY) has secured over $11 million in interim loan financing as part of a ninth amendment to its credit agreement, with a possible additional $30 million available. This financing is aimed at enabling the company to pursue further capital raising and strategic balance sheet solutions. Starry is working with PJT Partners to explore mergers, acquisitions, and financing options. CEO Chet Kanojia expressed confidence in the company's future despite macroeconomic challenges impacting capital raising efforts.
Starry Group Holdings, Inc. (NYSE: STRY) announced it may face delisting from the NYSE due to non-compliance with minimum market capitalization and stockholder equity requirements, both below $50 million. The NYSE started delisting proceedings on December 14, 2022, and trading in its Class A Common Stock is suspended. Starry has the right to appeal this decision and must submit a compliance plan within 45 days. Despite these challenges, there is no impact on customer internet services.
Starry Group Holdings, Inc. (NYSE: STRY) received a deficiency letter from the New York Stock Exchange on
Starry Group Holdings, Inc. (NYSE: STRY) announces CEO Chet Kanojia will speak at the Innovation Conference hosted by New Street Research and Boston Consulting Group on November 14, 2022, at 9:20 a.m. ET. This virtual event underscores Starry's commitment to providing affordable, high-speed internet through its unique fixed wireless technology, which ensures no data caps or long-term contracts. Starry operates in major cities like Boston, New York, and Los Angeles.
Starry Group Holdings, Inc. (NYSE: STRY) reported strong 3Q 2022 results, showcasing a robust 36% increase in revenue to $8.0 million, driven by a 66% growth in customer relationships, totaling 91,297. Homes serviceable expanded by 18% year-over-year to 6.0 million. However, net loss widened to $60.3 million from $39.8 million the previous year. The company undertook significant cost-cutting measures and retained advisors for potential strategic solutions, affecting full-year growth outlook but highlighting ongoing execution success.
Starry Group Holdings, Inc. (NYSE: STRY) has appointed PJT Partners to advise on mergers, acquisitions, and capital raising, following recent cost-cutting measures to improve capital runway. Latham & Watkins LLP will provide legal counsel. Starry aims to enhance its financial strategy amid challenges related to cash flow and maintaining compliance with credit facilities. The company is focused on delivering high-speed broadband with a customer-centric approach, currently available in several major U.S. cities.
Starry Group Holdings, Inc. (NYSE: STRY) announced a conference call set for November 2, 2022, at 8:30 a.m. ET to discuss its third-quarter 2022 results. A press release with the financial results will be issued beforehand. Interested participants can join the call via provided numbers or through a live webcast on Starry's Investor Relations website. Starry aims to offer affordable, high-speed internet using its unique broadband technology across several U.S. cities including Boston, New York, and Los Angeles.
Starry Group Holdings, Inc. (NYSE: STRY) reported robust growth in its third quarter of 2022, adding over 10,000 customer relationships, bringing the total to 91,297, a 66% increase year-over-year. Homes serviceable reached 5.96 million, marking an 18% annual growth. However, the company announced significant cost-cutting measures, including a 50% workforce reduction and a hiring freeze to extend its capital runway. Starry decided to withdraw from the FCC’s Rural Digital Opportunity Fund (RDOF) program and has retracted its full-year guidance for 2022.
Starry Group Holdings, Inc. (NYSE: STRY) has been recognized by Fortune on its Change the World list for 2022, highlighting its commitment to affordable broadband access. The company provides fixed wireless internet services in six U.S. cities, reaching over 5.7 million households, with plans to expand to Las Vegas. The recognition underscores Starry's mission to improve digital equity and connectivity through innovative technology. CEO Chet Kanojia emphasized the company's role in enhancing competition in the broadband market, traditionally dominated by monopolies.
FAQ
What is the market cap of STRY (STRY)?
