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.

What: Wireless network specialist Clearwire (Nasdaq: CLWR) tumbled as low as 16% in early Friday trading, after the company's third-quarter results revealed that it continues to face a serious cash crunch.

So what: After posting a net loss of $139.4 million for the quarter, Clearwire warned investors that it needs more capital to continue with its ambitious network rollout. Clearwire is cutting 15% of its workforce to help deal with the funding shortage, while Sprint Nextel (NYSE: S), which owns 54% of Clearwire, is seen as the most likely source for the additional cash.

Now what: I'd caution readers about pouncing on today's price plunge. Clearwire did manage to post strong subscriber growth, but the rising cash burn concerns are just too frightening for this Fool to be comfortable with. While Clearwire likely has various financing options available, the company isn't exactly in the best spot to snag a deal in which current shareholders benefit.

Interested in more info on Clearwire? Add it to your watchlist here.