December 13, 2004
SpeculatingStocks.com Stock Pick: Proxim Corp (PROX)
Stock Price: $3.96 (long-term strong buy)
Proxim Corporation is a global leader in the emerging wireless networking equipment market for Wi-Fi and broadband networks. The company provides its enterprise and ISP customers with wireless solutions for public hot spots, enterprise campuses, and security and surveillance.
PROX recently completed a 10 for 1 reverse stock split and has only 29 million shares outstanding. PROX has been at the $4.50 level for close to a month and a half. We believe it has hit bottom and will start to rise as the company continues to launch their Wi-Fi and broadband wireless solutions into more markets.
Remember, Proxim has a huge deal with Intel for the two companies to develop base stations and subscriber unit access points that will deliver fast wireless Internet access using the 802.16 protocol known as WiMAX. Proxim plans to launch WiMAX by early 2005.
SpeculatingStocks.com Target Price: We expect PROX to start trending higher and hit $15.00 over the next year.