UPDATE: Clearwire (CLWR) Sends Shorts Packing; Rips Above Key Level on Chatter

October 11, 2012 1:27 PM EDT
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(Updated - October 11, 2012 1:31 PM EDT)

Clearwire Corp. (NASDAQ: CLWR) resumed trading. Shares are up about 56 percent on the session.

UPDATE - Shares ripped above the $2 level, a point it hasn't been comfortably above since last April. Given that about 19 percent of float was short, that may have been a key level for many.

Large holder Sprint (NYSE: S) is in talks with Softbank over a possible M&A deal. In the deal, Sprint would need to acquire more of Clearwire assets, according to reports out Thursday.

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