Volume Spike Investor

Level 3 Communications (NASDAQ: LVLT) has been a head-scratcher yesterday and today. Yesterday we noticed a 2-times volume day with an 8% rise. Now this morning we have seen a sharp move with an 8% gain to $4.04 in an hour and 15 minutes of trading volume. At 13 million shares traded so far, that is more than half of a day’s normal trading volume.

At the end of April this was under $3.00 and it was under $2.00 at the end of March. This is also the first time the stock has seen north of $4.00 since October 2007.

The company presented data yesterday at the Oppenheimer Annual Communications & Technology Conference and you can see their presentation at this link.

Jon Ogg
June 4, 2008