Telecom & Wireless
Sprint (S) Rises Aloft On Wild Rumors
Published:
Last Updated:
Sprint (S) has traded about ten times its normal volume with over 261 million shares changing hands. The market is ablaze with rumors that the cellular carrier will cancel its plan to raise $3 billion in the open market and take the money from Korean company SK Telecom instead. SK has been trying to get in the front door at Sprint for over a year.
There is no reason to believe that shareholders will get diluted any less if the money comes in as a convertible sold to the public or as a direct investment from SK.
It is a nice way from people to get sucked in at a relatively high price only to see the stock drop later.
Douglas A. McIntyre
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.