DALLAS, May 13, 2004 (PRIMEZONE) -- Airbee Wireless (Pink Sheets:ABEW) is at its most attractive price level in a month, according to MicroTech Trader, a leading source of news and information on small cap technology companies. ABEW closed at $0.42 a share Wednesday, up five percent in four days of trading. At this price, MicroTech Trader believes it should attract many small cap investors, given the stock's proven ability to rise above $0.60 a share in recent weeks.
ABEW is a leading developer of intelligent software for short range wireless communications. Its software-based solutions offer significant cost savings over the hardware-based solutions that have flooded the current market. The company recently announced that it has signed a joint development agreement with SupaRule, a European manufacturer and supplier of electronic products for technical personnel across a variety of industries, and that it has applied for yet another patent. Additionally, ABEW has expanded both its headquarters facility and a product development facility in Chennai, India, in anticipation of increased demand.
MicroTech Trader believes these announcements point to favorable future news, and it continues to rate ABEW a "Strong Buy" in the wireless space.
MicroTech Trader identified the wireless industry a few weeks ago as a space that aggressive small cap investors may want to continue considering, and also identified two other companies, MobilePro (OTCBB: MOBL) and P-Com (OTCBB: PCOM), as "stocks to watch" in this space. Though PCOM has traded flatly in recent weeks, MOBL is up more than 100 percent since February; MOBL remains attractive around $0.23.
Among the bellwether wireless companies, only Intel Corp. (NYSE: INTC) showed significant gains over the past five days at an increase of more than five percent. Conversely, Vodafone (NYSE: VOD), is down about five percent after strong gains early last week. Trading flatly this week are Nextel Partners (Nasdaq: NXTP), U.S. Cellular (AMEX: USM), Motorola (NYSE: MOT), Atmel (Nasdaq: ATML), the Sprint FON Group (NYSE: FON). AT&T Wireless (NYSE: AWE) is down slightly this week after flirting with a new 52 week high last week.
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