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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
So what: There's irony in the sell-off. Earlier today, Leap announced what should have been good news. The company's Cricket subsidiary has inked a deal to make its Muve Music service available via select Android smartphones sold on Amazon.com (Nasdaq: AMZN ) .
Now what: Investors have good reason to be skeptical, of course. Google (Nasdaq: GOOG ) has its own Android-compatible music service while Pandora (NYSE: P ) and Sirius XM (Nasdaq: SIRI ) are still struggling to win over some smart handset owners.
To be fair, Leap will also offer Muve to some feature phone customers and pay-as-you-go clients, but that may not make a difference when bigger brands have already established themselves. Do you agree? Would you buy shares of Leap Wireless at current prices? Please weigh in using the comments box below.
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