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Sprint offers a comprehensive range of wireless and wireline communications services. Sprint trades an average of 65.3 million shares a day and has a market cap of $15 billion.
I love Sprint, although I don't love it as much over $5 as I did near $2.50. When Sprint was trading near $2.50, I wrote my bullish bias in the Rocco Pendola Options Newsletter, and in several
Those who have stuck with Sprint can hear me now. Sprint is what happens when you have a great company making all the right moves and the stock is in the dog house. Inevitably, sooner or later, the big money figures out that the stock is undervalued and begins to accumulate shares.
It is not hard to see the impact when money rolls into a newly loved company. Sprint has appreciated about 40% this year.
Part of the move higher may be due to short sellers covering their positions. The short interest is slightly over 5% in the last reported update, and I imagine it has fallen or at the most remains placid. We should know with the next update in the next day or two.
As bullish as I am on Sprint, I don't normally chase stocks. Sprint is great, but I think it gives us another crack at $5 before legging up again. With such a small per share price, each penny means a lot in terms of percentage gains for your portfolio.