Clearwire Tumbles After Verizon Announces Spectrum Sale
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Clearwire Corp., the unprofitable wireless-broadband wholesaler, fell to its lowest price since January after Verizon Wireless said it will sell some of its spectrum.
Shares of Clearwire declined 6.9 percent to $1.76 at the close in New York, after earlier retreating 20 percent. The Bellevue, Washington-based company’s shares have dropped 70 percent in the past 12 months.