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: A day after taking a well-deserved beating, shares of Clearwire
So what: Bargain shoppers piled in at the open, it seems, only to find their way elsewhere as the broader market struggled to make sense of new employment data. A tech selloff probably didn't help, either, as the Nasdaq fell close to 1% on the day.
Now what: Expect more of this volatility in the days and weeks ahead. At a market cap of roughly $440 million, Clearwire now sits in microcap territory yet still trades more than 6 million shares daily. Big-money buyers and sellers will move the stock to and fro as they jump in and out, eking out gains a point at a time -- right up until the future of this company becomes clear enough for long-term investors to get in. (Pun intended.) Do you agree? Disagree? Weigh in using the comments box below.
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