Why the Telstra (ASX:TLS) share price just hit a 7-month high

Telstra Corporation Ltd (ASX: TLS) shares are having a fantastic day today. The Telstra share price is up a healthy 2.4% at the time of writing to $3.41 after hitting $3.44 earlier today. That’s the highest share price Telstra has enjoyed since August 2020, a good 7 months ago now.

It’s a move Telstra shareholders would have enjoyed too. Since hitting a new 52-week low of $2.66 back in October, Telstra shares are now up around 28% on today’s prices. The company is also up around 12% since 11 March, and up 14% year to date.

So what is causing this climb in the Telstra share price?

Well, the latest piece of hot gossip out of Telstra came this morning. As we covered earlier, Telstra has decided to call it a day on the New…