- NII Holdings (NIHD +7%) has added U.S. iPhone support for its PRIP push-to-talk (PTT) service, courtesy of an iOS app. Android support was added last July.
- PRIP, which replicates the PTT functionality delivered by Sprint's iDEN network (shut down last year), costs $1.99/month (down from an initial $7.99/month), and works over 3G/4G and Wi-Fi networks.
- With NII possessing a giant short interest (34% of float shorted as of Dec. 31), and many shorts holding huge paper profits, it doesn't take much for shares to pop. They took off on Friday following news of a Brazilian iPhone deal, even though heavy taxes and tariffs have crippled the iPhone's Brazilian share.
NII Holdings jumps after launching U.S. iPhone PTT service
Jan 21 2014, 10:20 ET