Clearwire (NASDAQ:CLWR) saw its stock jump 27 percent after Chairman John Stanton disclosed that he bought more than 2 million of the company's shares in the past week. It was the largest jump in four years.
The WiMAX operator also saw some love last Friday when Clearwire's stock rose 20 percent on speculation that it could receive additional funding from Sprint (NYSE:S), which is the company's largest owner and wholesaler.
Clearwire witnessed its stock fall more than 20 percent after Sprint announced a 15-year, $9-billion hosting deal with LightSquared at the end of July.
But the Wall Street Journal recently reported that Sprint is expected to make a substantial new investment in the company, which would help clear up uncertainty over Clearwire's funding future. The funding would help Clearwire into 2013. Sprint is expected to detail more of its 4G strategy at an investor meeting Oct. 7.
Clearwire has insisted it has enough liquidity to fund its business for another year. However, the company noted in its most recent earnings call that it will need an additional $600 million to fund its transition to TDD-LTE and an extra $150 million to $300 million to maintain its existing mobile WiMAX business.
For more:
- see this Bloomberg article
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