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Why Sprint (S) Stock Hit a One-Year Low Today

NEW YORK (TheStreet) -- Sprint  (S)  hit a 52-week low of $5.36 on Tuesday after the third-largest U.S. wireless carrier unveiled its new pricing plan, which it said essentially doubles the amount of data customers can receive at a price that matches or beats competitors.

Sprint announced a new family plan could include up to 10 lines with 20GB of shared data and unlimited talk and text for $100 a month as part of the promotion that lasts through 2015. The new pricing also contains a promotion for an additional 2GB per line for up to 10 lines through 2015. This new pricing plan is available starting Friday.

TheStreet's Brittany Umar has details on Sprint's latest plan to gain subscribers:


WATCH: More market update videos on TheStreet TV | More videos from Brittany Umar

But Sprint's announcement came along with some discouraging news from research firm RootScore, which released the results of a new study from the first half of 2014 on the four major U.S. wireless networks. Sprint came in last with a rating of 69.6 for overall performance, behind T-Mobile (TMUS) at 71.5, AT&T (T) at 79.5 and Verizon (VZ) at 81.6. Sprint placed last in the "speed index," "data performance" and "call performance" categories and second-to-last for "text performance" and "reliability."

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The stock was down 4.54% to $5.36 at 10:31 a.m.

S Chart S data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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