Spectrum Shares Soar After Board Exit: Shares...
From Times Staff and Wire Reports
Spectrum Shares Soar After Board Exit: Shares of Spectrum Information Technologies Inc., a technology-licensing company, rose 75% on Friday after it replaced its entire board and named a new chief executive. Spectrum was the third-most-actively traded domestic stock, advancing 75 cents to $1.75 on volume of 5.6 million shares, far above its three-month daily average of 371,400. The announcement capped a troubled year for Spectrum, whose stock has gyrated wildly as questions arose about its wireless data technology.
