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June 18, 2004 Stock Pick: Proxim Corp (PROX)

Stock Price: $1.42

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.

Yesterday, Proxim announced a huge deal with Intel. The deal calls 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.

IPIX, the stock we gave a strong-short to yesterday, ran up so much due to its security and surveillance solution. With WiMAX bringing portability to various devices it should not be hard for Proxim to blend their security and surveillance solutions into their networks for use in homeland security.

Proxim as a whole has huge potential. We wouldn’t be surprised if shares jumped up huge again tomorrow.

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