NextWave Can’t Explain Big Share Price Jump

NextWave (WAVE) CFO Francis Harding said his company knows of no reason for the sharp rise in the price of the company’s stock price today.

NextWave is in the middle of a  restructuring program that will re-focus its business on two areas: its PacketVideo mobile software units and its U.S. wireless spectrum assets. But Harding said in an interview with Tech Trader Daily that there is nothing new to report on that process.

WAVE shares today are up 13 cents, or 33.3%, to 52 cents.

Volume in the stock of 3.54 million shares is much heavier than average. Harding noted that the same thing happened a few weeks ago for no obvious reason: on June 5, the stock jumped 10 cents, or 32%, on 1.7 million shares. No news then, either.