1.67% on the market and its volume rose over 2 million shares traded. Judging by these values, it turns out that traders have started to lose interest in XO shares and the fall has begun.The last news on the company came out about 2 weeks ago, when Lightyear Network Solutions announced a multi-year Carrier Services Agreement with XO Communications Services. XO seems pleased with the new agreement and “expects to add value to Lightyear’s business by enhancing its service offerings, reducing its costs and extending its market coverage”.
XO Communications is a subsidiary of XO Holdings, Inc, known as a provider of advanced broadband communications services and solutions for businesses, enterprises, government, carriers and service providers.[BANNER]
A week before this announcement was released, XO Holdings reported it was ranked 110 on this year’s InformationWeek 500, and garnered the recognition for its XO Innovations Program, providing a forum for its employees’ new ideas.
After publishing this news, XO remained in silence and couldn’t hold investors’ attention.
Historical data points that XO used to trade higher around May this year, though after that the price entered a downtrend.
As compared to the previous quarter, the company’s revenues and assets have improved, however, XO has suffered an operating loss of over $6 thousand.
Based on these financials, XO management believes its cash will be sufficient “to meet its working capital and other obligations for at least the next 12 months”. However, the team still needs additional capital “to continue to implement our “transformation plan” and also give us the resources to take advantage of opportunities which may arise for strategic growth”.
