By George Glover
Pharma stocks fell last week when President-elect Donald Trump tapped vaccine skeptic Robert F. Kennedy Jr. to be his secretary of Health and Human Services -- but that isn't the only sector that could struggle if his nomination is approved by the Senate.
In a research note published Monday, New Street Research policy advisor Blair Levin wrote that wireless technology companies could also take a hit because Kennedy has attacked both Wi-Fi and 5G in the past. While Levin didn't mention any specific stocks, AT&T, Verizon Communications, and T-Mobile US are three of the biggest names in the space.
"Investors in wireless should be aware of RFK's attacks, and tactics he could use that could potentially slow down and raise the costs of deploying next generation wireless networks and services," Levin said.
While Kennedy won't be directly responsible for telecommunications policy in his role leading the HHS, he'll have a "huge bully pulpit to air his thoughts" and could pressure the Federal Communications Commission to lower wireless radio-frequency radiation limits, Levin added.
There is no scientific evidence to suggest that using wireless devices can cause cancer or other illnesses, according to the FCC's website. Still, Kennedy has clashed with that consensus in the past.
"Wi-Fi radiation opens up your blood-brain barrier, so all these toxins that are in your body can now go into your brain," he said in a June 2023 interview with the podcaster Joe Rogan.
Kennedy has also previously argued that 5G can "harvest our data and control our behavior."
Write to George Glover at george.glover@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
November 18, 2024 10:49 ET (15:49 GMT)
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