I'm not familiar with Clearwire, but perhaps another useful analogy would be the stock of Vonage, which IPO'd in 2007 at $13ish I believe. Vonage wasn't profita

I'm not familiar with Clearwire, but perhaps another useful analogy would be the stock of Vonage, which IPO'd in 2007 at $13ish I believe. Vonage wasn't profitable up until last year and their stock is at $2.47 as of today's close.