Two years ago when we started to hear about the currencies of 5G with few concrete examples I was skeptical, but thought perhaps business needed some time to come up with practical applications. Here we are two years on and outside of FWA there are still no compelling short term "we're going to really take advantage of 5G" applications. VR is the next obvious application, but consumers have not flocked to it (I think it is like 3D televisions at the moment).
I think we will get there but it seems the incubators to try and land products at the same time we rolled out 5G have failed. We'll have the network rolled out before there are other significant revenue producing use cases. Sure there may be one of business that may benefit in the short term, but nothing at scale.
The ROI from 4G to 5G will be nowhere near the returns from 3G to 4G. Until we can show some additional revenue streams we can expect the stock to get hammered.