Why was everyone talking about the Telstra (ASX:TLS) share price today?


The Telstra Corporation Ltd (ASX: TLS) share price was one of the more interesting performers in the ASX today. As of market close, the telco was down by 1.02% at $3.88 a share. That’s after Telstra opened at $3.94 this morning. In stark contrast, the S&P/ASX 200 Index (ASX: XJO) enjoyed a robust day of gains today. The ASX 200 rose by a pleasing 1.1% at over 7,100 points. 

So what went on with Telstra shares?

Well, one possible cause might be the news that the telco is facing a class action. As my Fool colleague Tony covered today, the company is facing legal action from a former employee. Former staffer Jodi Wruck has reportedly filed a case in the Federal Court against Telstra after she was fired in December following a refusal to get a COVID-19 vaccine, as per the company’s vaccination policy. Wruck has also claimed that “at least seven” staff members have signed on as plaintiffs, which is the legal minimum to be classified as a class action. 

Telstra told the Motley Fool that “state and territory public health orders also required those performing essential telco work to be vaccinated”.

It’s unclear if this development did impact the Telstra share price today, but it is possible.

Telstra shares have had a pretty miserly time of it over the year so far. In 2022, Telstra is still down by a notable 8.06% as it currently stands. It’s also down by close to 10% from the 52-week high of $4.31 per share share that we saw back in January. However, zooming out, the picture looks a lot brighter. Telstra remains up close to 27% over the past 12 months, and up almost 45% since October 2020.

At the current Telstra share price, this ASX 200 telco has a market capitalisation of $45.58 billion, with a dividend yield of 4.12%.

Source: Read More

We’ve Already Come Too Far To End This Now.

Subscribe To Our Weekly Newsletter

Get notified about new articles