"Global Crossing (NASDAQ: GLBC) was started in 1997 to build a worldwide fiber optic cable network, with the strategy, 'if you build it, they will come'," says George Putnam, adding, "But as the telecom bubble burst around 2000, nobody came."
Now, in his always-excellent The Turnaround Letter, the advisor suggests, "We think the current stock price gives you the opportunity to buy into a very valuable communications network at a tiny fraction of its original cost."
"The new stock went as high as 36 shortly after it began trading after its bankruptcy. When it later dropped in price, several high-profile investors accumulated sizable positions.
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Why isn't Bank of America updating its shareholders on CEO situation?
Before the bell: Futures sharply lower on Dubai's debt problems
Will Rich Ross really have a positive impact on Disney's movie operations?
