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 high-speed-mobile wireless broadband provider Clearwire
So what: Before the opening bell, Jefferies downgraded Clearwire to hold from buy, which is what has been responsible for sending the stock into a tailspin -- at least for today. In addition, a mixture of crippling debt levels and Sprint Nextel's
Now what: I usually place little credence in the one-day moves of analyst upgrades and downgrades and would suggest doing the same here as well. Despite being in full agreement with the downgrade, as I find Clearwire's debt level and business prospects to be grim, I feel that nothing has changed materially because of the downgrade; it shouldn't alter your investment thesis on the company.
Craving more input? Start by adding Clearwire to your free and personalized watchlist so you can keep up on the latest news with the company.