Lowest point since March 2012
MetroPCS expanded its wireless coverage area into Jacksonville. The company recently added networks in Las Vegas and Bakersfield. It will add Boston, Philadelphia, and New York by the second half of 2009. This expansion could significantly increase customers and profits or prove costly if the company can't attract business but has already spent money building the new networks.
MetroPCS added 450,000 customers in the first quarter of 2007 easing analysts concerns that an economic downturn would hurt customer additions. This company serve mainly low-income groups, whose spending is most impacted by economic conditions.
MetroPCS offered to purchase Leap at a $75 per share price tag. Leap declined the offer, and MetroPCS subsequently withdrew it. The two wireless communication companies compete with much larger telecom giants, and a merger could help them compete.