Clearwire's stock tanks as Nokia exec calls WiMax a 'niche play' |
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Clearwire's stock tanks as Nokia exec calls WiMax a 'niche play'
Shares of Clearwire are getting killed today in advance of the Kirkland company's quarterly report, which is scheduled to begin at 1 p.m. The stock is of 13 percent, now trading at just $2.84. It probably didn't help that a Nokia executive today committed to the rival Long Term Evolution technology, calling the WiMax technology that Clearwire is banking on a "niche play." Analysts are expecting $60 million in revenue for the fourth quarter, with 2009 losses to be cut in half. More to come after the financial report is filed.
UPDATED: Here's the latest on Clearwire's fourth quarter and year-end results, which includes information on the company's plans to expand to Chicago, Dallas and other cities.
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