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Om Malik argues that fixed wireless broadband provider Towerstream is riding Clearwire’s coattails: Towerstream has been providing fixed service for some time in major cities, but hasn’t had explosive success. They got into the over-the-counter stock market by buying an unrelated firm (University Girls Calendar Ltd.!), and then migrated into the NASDAQ. They’re looking to raise $40m, but at $4 a share—not yesterday’s close near $6 a share. Thus, a plunge. Revenues are quite low for such a long-established firm in mature cities.
Posted by Glennf at June 6, 2007 9:11 PM