It’s been awhile – well, a week or so – since I last posted on Nortel’s share price but….it dropped below 25 cents today, hitting a new record low of 24 cents on the NYSE.
Nortel now has a market capitalization of $129.3-million. Of course, it also has $4.5-billion of debt and a pension-fund deficit of perhaps $2.4-billion so it’s not like Nortel is cheap.
…And yet the board still sits on their hands and does nothing. Shocking.
wasthere
Where are everybody that jumped on Mark Sue(RBC) when more then a month ago, he did slash the target price to zero on Nortel stock ? I can ear a fly !
rizcorpl
Who says they are doing nothing. If MEN is sold for a good price and NT in no longer in danger of a short term BK, what happens to your quarter?
marketsavvy
The enterprise customers that I visit with, many who have Nortel voice investments, stated they they have no plans of spending money with Nortel for any large capital projects. They'll continue to maintain their cuurent NT equipment and are in the process of building business plans on replacing NT with Cisco or some other vendor. I don't blame them. What justification can you provide on spending $1.0m with a company that's on the brink of bankruptcy and extinction?
marketsavvy
The enterprise customers that I visit with, many who have Nortel voice investments, stated they they have no plans of spending money with Nortel for any large capital projects. They'll continue to maintain their cuurent NT equipment and are in the process of building business plans on replacing NT with Cisco or some other vendor. I don't blame them. What justification can you provide on spending $1.0m with a company that's on the brink of bankruptcy and extinction?
Got a Quarter? Buy Some Nortel
It’s been awhile – well, a week or so – since I last posted on Nortel’s share price but….it dropped below 25 cents today, hitting a new record low of 24 cents on the NYSE.
Nortel now has a market capitalization of $129.3-million. Of course, it also has $4.5-billion of debt and a pension-fund deficit of perhaps $2.4-billion so it’s not like Nortel is cheap.
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