As Level 3 Communications
Now, the numbers are in, and they're not great: Sales shrank 3.6% year-over-year to $908 million, and net losses grew from $0.08 per share to $0.10 per share. Level 3 has given back all of yesterday's mighty gains. Such is life when you're dealing in penny stocks, albeit ones with a $1.8 billion market cap and $7.8 billion of enterprise value.
Investors in Sirius Satellite Radio
When it comes to Level 3, there's always the promise of lighting up massive amounts of dark fiber to profit handsomely if, and when, America needs a drastic increase in network capacity. It's a valid investment thesis, but one that takes a lot of patience. That opportunity has been lurking around for years, and while Cisco Systems
But, I digress. I'm all for focusing on the profitable aspects of your operations, and Level 3 has made some good moves in recent years. The company is a credible alternative to Akamai Technologies
Anyway, unless you bought shares yesterday, you haven't lost anything today. Level 3 is back where it was two days ago. Just tread carefully around these jumpy small caps -- even if they're sitting on massive capital assets.