Mitel Network Corp. (MITL) shares skyrocketed from $2.68 on Thursday to $3.55 on Friday. On Thursday evening Mitel reported adjusted second quarter profits much higher than expected and this caused the jump in stock price. These unexpected profits also led to a much greater trading volume of Mitel shares than usual.
Mitel is a communications company which provides integrated communications solutions to companies on all five continents. The company provides Internet protocol (telephony platforms), many other technical communications servies, and business advisory services. The company supplies software to enable the simplicity and flexibility that companies need to perform well in an ever advancing work environment. Mitel had more than 80 offices in more than 80 countries.
Its stock has been slowly declining over the last 2 years, but I believe that this is a company worth watching. This is not necessarily the time to buy but the price has gone down from $12 to $2. I believe that within a year the company’s stock will turn around. With this price you can’t go wrong.
Some of the key managers at Mitel Networks Corp. are: Jon Brinton, Graham Bevington, Ron Wellard, Rich McBee, Phil Keenan, Steve Spooner, and Ryan Donovan.
Disclaimer: The information in this article is not complete enough to make investment decisions. All such decisions should be based on a thorough analysis of the company, the industry and the stock.
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