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June 15, 2007

Clearwire's stock nears IPO price

Posted by Tricia Duryee at 11:17 AM

Clearwire's stock is avoiding a big swing today, reflecting Wall Streets outlook on the company's newly inked deal with two satellite TV companies.

Here's today's story on how the Kirkland-based company will bundle its wireless Internet access service with TV from DirecTV and EchoStar Communications.

It also addresses the rumors that Sprint Nextel could be looking for a WiMax partner, or considering a tracking stock that would reflect how the new technology was performing despite Sprint's core cellphone business.

In afternnon trading, Clearwire was trading around $24.50 a share, which is getting the share price back a little bit closer to its IPO, which sold 24 million shares at $25 a piece.

UPDATE: At the end of trading, Clearwire's stock fell 15 cents, or .61 percent, to close at $24.35 a share.

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Tricia Duryee
Tricia Duryee
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Angel Gonzalez
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