Frontier Communications stock price surges, then crashes, on Verizon acquisition news

Investors appeared to be initially excited about the deal, which would see Verizon purchase the telecom in an all-cash transaction valued at $20 billion.

Shares in Frontier Communications Parent have been on a wild ride over the past 24 hours. The stock (ticker: FYBR) saw its price surge a staggering 37% to $38.68 per share after reports that communications giant Verizon was looking to buy the company.