Metricom

(MCOM)

was up 7.6% in peopen

Island

trading after it issued a statement saying it would not shut down its

Ricochet

wireless data and Internet access service.

The wireless data network operator said that although it continues to seek funding, it did not mean to imply that it is closing Ricochet. Metricom last week said it may cut operations in the wake of a larger-than-expected loss. The company's stock fell sharply as a result.