Downgrade and UAE contract hit NetComm
The wireless equipment maker is having trouble catching a break. The stock has fallen around 40 per cent in two weeks due to an ill-timed contract win in the United Arab Emirates and perceptions that the company has gone ex-growth.
The wireless equipment maker is having trouble catching a break. The stock has fallen around 40 per cent in two weeks due to an ill-timed contract win in the United Arab Emirates and perceptions that the company has gone ex-growth.
Management announced on November 17 that it had won an initial $1.8 million contract for its third-generation routers from UAE’s telecom giant Etisalat, shortly before debt-laden sovereign wealth fund Dubai World sent shivers across global markets by requesting a standstill agreement with its creditors.
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