Nortel: Stock's on a Roll, But for How Long?Nortel: Stock's on a Roll, But for How Long?
Nortel could be in for an eventful week.
January 12, 2009
Nortel could be in for an eventful week.
Nortel's stock has been rising steadily Friday and today (from just over 26 cents to well into the 40s as of 1:49 p.m. EST), for reasons I haven't seen any good explanation for. Admittedly, this is still well below the $1 limit the share price would need to reach to keep Nortel from being delisted.Nortel could be in for an eventful week. This article points out that Thursday could be a crucial day for Nortel with regard to the company's potential for going into bankruptcy.
Furthermore, it looks like Nortel may lose one of its most promising suitors for the Metro Ethernet unit, as Forbes.com is reporting that Huawei is running into the same sort of opposition for this potential acquisition as it hit when it tried to acquire 3Com, a deal that was eventually scuttled over national security issues.Nortel could be in for an eventful week.
