Clearwire Shares Dive on Spectrum Sale Announcement


Clearwire Corp. (NASDAQ:CLWR), the struggling provider of wireless-broadband that is no longer profitable, dropped to its lowest price since January after news broke that Verizon Wireless plans to sell pieces of its spectrum, Bloomberg reports.

The company's shares plummeted 6.9 percent to $1.76 by the close of the day, at some points reaching lows of a 20 percent decline. In the past 12 months, the company's shares have sailed southward by 70 percent. Clearwire has not reported an annual profit in more than five years, and may soon be forced to sell some of its own spectrum, which analysts at CreditSights Inc. peg to be worth $4 billion.

According to the news source, Verizon plans to conduct an open-sale process for the 700 megahertz A and B spectrum licenses, which supply mobile capabilities to several major cities in the U.S.

A recent Paragon Report found that spectrum, or the airwaves that mobile data travel on, is nearing capacity. Verizon says the problem has led to dropped phone calls, delayed messages and slower video streams in some of its markets.

Using information on insider trading can influence which investment option to pursue when company stocks start to tumble. 

Read Full Insider Report For:   CLWR  |

Related News:

Disclaimer focuses on tracking and monitoring insider trading activities in the US stocks market. "Insider Trading" means trading activities created by company directors, senior officers, individual substantial shareholders, and institutional shareholders. does not represent, warrant, nor endorse the accuracy, reliability, completeness or timeliness of any of the information, content, views, opinions, recommendations or advertisements (collectively, the "Materials") contained on, distributed through, or linked, downloaded or accessed from any of the services contained on the website (the "Service"), nor the quality of any products, information or other materials displayed, purchased, or obtained by you as a result of an advertisement or any other information or offer in or in connection with the Service (the "Products"). collects insider trading information from different public sources such as newspapers, financial information websites, and government statistics publications. You hereby acknowledge that any reliance upon any Materials shall be at your sole risk. In particular, none of the Materials is provided on the website or emails with a view to inviting, inducing or encouraging any person to make any kind of investment decision. Securities or other investments referred to in the Materials may not be suitable for you and you should not make any kind of investment decision in relation to them without first obtaining independent investment advice from a person authorized to give it.