Comcast Corporation, (CMCSA) shares rose by 1% on May 26th as the company announced the expansion of its Xfinity 10G Network to Arcadia and surrounding areas in DeSoto County. This move aims to provide high-speed internet services to over 10,000 homes and businesses, bringing reliable internet access to these areas for the first time. The network expansion is part of Comcast’s effort to meet the growing demand for internet consumption both now and in the future.
Arcadia becomes the latest Florida community to benefit from these enhancements, allowing Comcast to introduce new symmetrical multi-gigabit internet options at a lower cost using its existing infrastructure.
The network expansion is expected to be completed by the end of summer, making services available in the City of Arcadia and parts of other areas in DeSoto County, including Nocatee and Lake Suzy.
In another exciting development, Loews Corp has increased its stake in Comcast Corporation, a global media and technology company, by an impressive 20% in the fourth quarter of 2023. The investment firm now owns a total of 240,000 (240K) shares of Comcast’s stock, making it Loews Corp’s 18th largest holding. This move demonstrates confidence in Comcast’s potential for future growth.
On Friday, CMCSA stock showed a 1% increase, reaching $39.48 per share, with a trading volume of 35,818,360 (35.81M). The current market capitalization of CMCSA stands at $162.96 billion.
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