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The Figure Of Sprint Corp.’s (NYSE: S) Short Interest Is On A Rise

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By on Technology & Software

The number of stocks of Sprint Corp. (NYSE: S) that were sold short in the recent trading period rose significantly, according to the latest research reports.  The figure saw an increase of 6.3 percent and reached to a total of 70.1 million by the end of December 15, 2014.

Sprint Corp. (NYSE: S) is trying hard to remain operating in the shadows of its competitors. The rivals of Sprint are much larger, both in terms of business and user base. The top two companies that dominate the telecommunications market are Verizon Communications Inc. (NYSE:VZ) and AT&T Inc. (NYSE:T). Sprint is not only facing financial troubles, but the company is also faced with the question of how to expand its user base in order to improve its financial scenario.

Where the latest promotion that Sprint came up with could grab a lot of market share, the costs of implementing it would be huge. Sprint Corp. (NYSE: S) has promised those subscribers who currently use the services of Verizon Communications and AT&T that they would be given the same package at half rates if they shift their service to Sprint.  This plan of Sprint consists of five segments.

The first segment is that the users of other two telecommunications companies show Sprint a recent receipt of their wireless subscription.  The next is that they need to select one of the smartphones from the range that Sprint offers. At this time, the users need to bring their phones along, the ones that they used for Verizon and AT&T networks. The users can keep their numbers, but their contracts will be bought out by Sprint Corp. (NYSE: S).

It is important to mention here that this offer of Sprint is a ‘limited time’ one. Perhaps Sprint knows that it will not be able to continue to do so for a long while, for the company will be throwing red ink in its base line.

Sprint Corp. (NYSE: S) reported its recent quarter’s figures on November 3, 2014, and the figures were very low. The net operating revenues for its second fiscal quarter of the year 2014 were recorded to be at $8.5 billion with an adjusted EBITDA of $1.4 billion and a loss of $192 million.

The stocks of Sprint Corp. (NYSE: S) declined by 34 percent in the last quarter. The market experts will not be much surprised if the number of short interest increase in the next couple of weeks.

Coming to the current stock prices of Sprint Corp. (NYSE: S), the company, during the last trading session of December 26, 2014, started its stocks at a price of $4.20 and closed at a price of $4.34, after hitting the highest price of $4.35. The intraday range for the company’s shares was recorded to be from $4.20 to $4.35. As far as the market capitalization of Sprint Corp. (NYSE: S) is concerned, the figures currently stand at $16.58 billion.

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