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: Shares of wireless service specialist Leap Wireless International
So what: Shares of several small wireless operators -- including Leap, U.S. Cellular
Now what: Leap might be one takeover target that's worth taking a shot on. Even with today's double-digit pop, the shares are still down more than 15% over the past year and trade at a cheapish price-to-book of 1.1. Fools know never to buy a stock based on buyout buzz alone, but Leap's more than 5 million subscribers and billions of dollars worth of network assets might provide enough downside protection to make the bet a safe one.
Interested in more info on Leap? Add it to your watchlist.
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