Clearwire Drops After Disclosing ‘Going Concern’ Risk
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Clearwire Corp., the company building out a high-speed WiMax wireless network, fell in Nasdaq Stock Market trading after disclosing that it may not have enough funding to keep operating its business.
“Our expected continued losses from operations and the uncertainty about our ability to obtain sufficient additional capital raises substantial doubt about our ability to continue as a going concern,” Clearwire said yesterday in a filing.