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Telecom & Wireless

Short Sellers Move Out Of Sprint

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By Douglas A. McIntyre Published
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Stocks:  (S)(MOT)(INTC)

Someone on Wall St. must think SpintNextel is going to do better. Maybe it is the big 4G WiMax the company is going to roll out to power its broadband phones. The project is part of a technology backed by Intel, Motorola and Samsung.

Maybe Sprint’s stock is seen has having fallen enough to be a value. It traded at $26 in April and now only fetchs $19 on a good day.

December short interest in Sprint fell more than any other stock on the NYSE, down 11.4 million shares to 63.3 million.

Several analysts are willing to argue that the company’s stock is too cheap. Morningstar gives the company’s shares a "fair value" of $28 partly because it is a "partner of choice" for cable companies because it is not owned by one of the wireline phone companies.

A lot of investors don’t want to bet against that.

Douglas A. McIntyre can be reached at [email protected]. He does not own shares in companies that he writes about.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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