DALLAS, April 7, 2004 (PRIMEZONE) -- Last week, MicroTech Trader pointed to the wireless industry as a hotbed of stocks that had not performed well lately, but remained considerations for aggressive investors.
Two of our three small cap "stocks to watch" last week experienced exceptional gains this week, led by Mobil Pro (OTCBB:MOBL), which was up 45 percent at yesterday's close on volume that was well above twice the stock's average. It was followed by Airbee Wireless (Other OTC:ABEW), which was up nearly 30 percent in the past five trading days. Our third pick, P-Com (OTCBB:PCOM), changed only modestly on volume that slowed recently.
When MicroTech Trader first identified Airbee as a company that aggressive investors may want to continue considering last month, the company's stock was trading at $0.30 a share. ABEW shares closed yesterday at $0.65, up more than eight percent from the previous close of $0.60 on good volume for the stock, and up more than 115 percent in less than a month.
A leading developer of intelligent software for short range wireless communications, ABEW announced this week that it has been accepted as a participating member in the ZigBee Alliance, an international association of companies working together to enable reliable, cost-effective, low-power, and wirelessly-networked monitoring and control products based on an open, global, wireless standard. According to a company press release, Airbee's membership will allow it to gain early and unlimited access to ZigBee specifications and actively contribute to the evolution of the standard thereby ensuring its products not only comply with the standard, but evolve with it as well. MicroTech Trader continues to rate ABEW a strong buy in the wireless space.
A number of large-cap wireless companies also enjoyed gains in the past five trading days. These include Nextel Partners (Nasdaq:NXTP), up more than seven percent; U.S. Cellular (AMEX:USM), up three percent; Vodafone (NYSE:VOD), up nearly four percent; Motorola (NYSE:MOT), up nearly five percent; Intel Corp. (NYSE:INTC), up more than two percent; Atmel (Nasdaq:ATML), up about four percent; Ericsson (Nasdaq:ERICY), up nearly 12 percent; the Sprint FON Group (NYSE:FON), up nearly nine percent; and AT&T Wireless (NYSE:AWE) which was up nearly eight percent in the past five trading days, picking up momentum again after fairly level activity in recent weeks.
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