AboveNet Inc. (ABVT.PK)

California-based AboveNet Inc is in the business of Communications Services, NEC. It currently trades under the stock symbol ABVT.PK on the Pink Sheets. Pink Sheet stocks often lack reliable information such as financial statements. We advise extreme caution before investing in this stock.

There are 549 employees working at this company. Considering the number of employees in the company, they appear to be more established than most of the companies listed on the Pink Sheets. When evaluating investment opportunities, it is important that the company be adequately staffed with qualified personnel. You should carefully consider the corporate headcount.

On Jan 5, 2009 the company's share price reached $29.00. At the moment, the share price is 68.13 % lower than its 52 week high of $91.00. A share price above $10.00 is high for a Pink Sheets company. We would advise investors to look into the possible reasons for this. The stock is hitting new 52 week lows. Counter-trend investors might find this an opportunity to buy some of it. But such an approach may not always be successful. There is substantial investor interest in this stock.

A short while ago, some news was released by the company. On Dec 18, 2008, AboveNet Inc announced the following news: " AboveNet Completes Network-wide IP Edge Upgrade with Juniper MX-series Ethernet Services Router ". Although this news is apparently exciting, its effect on the company's share price is still not clear.