McLeod Leaps as it Denies Bankruptcy Rumors

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McLeod (MCLD) was up 87.1%, the most active stock on the Island ECN, after the communications provider issued a statement denying rumors it will file for bankruptcy.

The company said it has the fundamentals in place to navigate the current economic environment and was further poised to "maximize the company's significant opportunity."

"McLeodUSA is confident in its future and has absolutely no intention of filing for bankruptcy,'' the company said.