Telstra shares are down 70% from their peak and heading for their lowest level since listing

Telstra’s share prices continues to slide, dropping by a further 2.9% to $2.72 on Tuesday.

As seen in the chart below, Telstra shares currently sit at the lowest level since August 2011.

Investing.comUgly.

They’ve now fallen 27.4% since early January, extending the losses from February 2015 to 59%.

They also fallen 70% from the high of $9.07 set in late 1999, hindered down by increased competition, higher bond yields and, more recently, service outages.

Today’s slump follows a warning from UBS that Telstra’s dividend could fall to 14 cents within the next few years, according to the Australian.

The only question now is whether shares in the beleaguered telco will fall below $2.52, the record low set in late 2010.

It’s not very far away now.

NOW READ: This is what caused Telstra’s nationwide outage

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