Sprint: It’s The Sell Now Network

Sprint Nextel (S) shares have extended their recent slide to five straight sessions, and accelerated to the downside. The stock today is down 72 cents, or 22.3%, to $2.51. That bring the stock’s five-day loss to $1.64, or close to 40%. There have been several important developments for Sprint holder over the last two weeks, although none happened within the last few days: On October 30, the company announced that , unable to find a buyer, it intends to keep Nextel. On November 4, the company got the FCC’s okay to proceed with the planned merger of its Xohm broadband wireless unit into Clearwire . On November 7, the company announced Q3 results , and unveiled plans for a revised credit agreement which has a higher interest rate than the one it replaces. As for today…well, there isn’t really any news today, certainly none that explains the sharp decline. Craig Moffett, an analyst with Bernstein Research , said in an interview today that the market is ... (link)