WiMAX Stocks Join the Rally
The recession may not be over, but there appears to be a lot more Wall Street confidence in WiMAX stocks lately. Just looking at three leading firms in the nascent U.S. WiMAX market — Clearwire, Towerstream and Alvarion — you see some significant jumps in market caps over the past couple months.
WiMAX provider Clearwire, as you can tell by this handy chart, was trading at $4.25 back on June 3 but closed July 28 at $8.13 a share, a 91 percent gain. We noticed some crazy activity with Towerstream’s stock a few days ago, and it’s been on a wild ride this week (and it looks like the company pre-announced some earnings info perhaps in an attempt to calm the waters) but it still closed July 28 at $1.64 per share after being at 72 cents a share back on June 3, a gain of almost 128 percent.
And WiMAX gear maker Alvarion seems to be holding onto the big bump it got when it announced its $100 million deal with provider Open Range back on June 16. The stock, at $3.17 on June 3, closed July 28 at $4.74, almost exactly a 50 percent gain. Alvarion is scheduled to report earnings tomorrow, while Towerstream reports on Aug. 5 and Clearwire, who should have some more WiMAX subscription numbers to chew on, reports Aug. 11.
