DALLAS, April 29, 2004 (PRIMEZONE) -- MicroTech Trader today announced that two of the three small cap companies it designated as "stocks to watch" this month have experienced gains totaling 160 percent in recent weeks.
Airbee Wireless (OTCBB:ABEW) is up more than 60 percent since dipping below $0.30 last month, while MobilePro (OTCBB:MOBL) is up close to 100 percent in just a few weeks of trading. MicroTech Trader's third pick, P-Com (OTCBB:PCOM), continues to trade flatly on volume that has slowed significantly.
MicroTech Trader identified the wireless industry a few weeks ago as a space that aggressive small cap investors may want to continue considering. When MicroTech Trader first rated Airbee a "Strong Buy" last month, the company's stock was trading at $0.30 a share. ABEW shares closed yesterday at $0.47, up more than six percent from the previous day's close on good volume for the stock.
A leading developer of intelligent software for short range wireless communications, ABEW announced this week that it has expanded both its headquarters facility and a product development facility in Chennai, India. The company also recently announced its acceptance into the ZigBee Alliance, an international association of companies working together to enable reliable, cost-effective, low-power, and wirelessly-networked monitoring and control products based on an open, global, wireless standard.
MicroTech Trader believes both announcements point to favorable future news, and it continues to rate ABEW a "Strong Buy" in the wireless space.
A number of large-cap wireless companies showed no significant movement over the past five days. Trading flat for the week were Vodafone (NYSE:VOD), U.S. Cellular (AMEX:USM), and Nextel Partners (Nasdaq:NXTP), the latter of which showed little overall movement despite closing up more than three percent yesterday. Meanwhile, Motorola (NYSE:MOT), Atmel (Nasdaq:ATML), AT&T Wireless (NYSE: AWE), the Sprint FON Group (NYSE:FON), and Intel Corp. (NYSE:INTC) all have traded lower this week after late-week rallies this past Thursday and Friday.
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