Level 3 (LVLT) Near $2
February 22, 2008 by Douglas A. McIntyrePerhaps the prospect of Level 3 (NASDAQ: LVLT) COO Kevin O’Hara speaking at the Merrill Lynch Communications Services Forum next week drove investors out of the stock. Shares were at $2.50 two days ago and $2.06 today. No bottom for these shares. The have a 52-week high of $6.77.
While the company’s earnings were weak and Level 3 has high debt, all of that news is several days old. The selling of the stock has turned into something of a panic.
Wall St. has probably figured out that the people who run Level 3 are not going anywhere. The CEO and COO have been there for years. The debacle in earnings which has caused a debacle in the share price shows no sign of ending.
Level 3 has a weak board. None of the members have much to recommend them as big company directors. The head of the Nominating and Governance committee is a retired admiral James O. Ellis, Jr. He must have spent a lot of years steaming in circles and running over he own tow rope. Some on needs to get him a compass.
Douglas A. McIntyre
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.