The following is either an expensive publicity stunt or a true vote of confidence in Nortel Networks’ rebound. Company CEO Mike Zafirovski purchased about $1 million worth of Nortel stock on the open market earlier this week, according to Reuters. So why is he so bullish on the company? Read on.
For starters, Nortel shares are trading near a 52-week low. Also, Nortel is mulling some acquisitions — which could accelerate growth at the company.
The days of Nortel living on the brink of bankruptcy appear over. But things aren’t exactly perfect at the company. In fact, Wall Street was disappointed with Nortel’s most recent quarterly financial results.
When investors started dumping company shares, Zafirovski apparently saw a buying opportunity…
