Perhaps this is because Sprint has yet to do much to make people want to come on over to their network? This is not even considering how they ignored their existing customers…

Wall Street gave Sprint Nextel (S) a walloping on Aug. 3 after the company reported disappointing financials for the second quarter. Sprint said revenue was $10 billion, below the average analyst estimate of $10.5 billion. Sprint’s revenue last year, before it merged with Nextel last August, was $5.7 billion. Earnings were $370 million, while a year ago Sprint earned $600 million, again before the Nextel deal.

The Reston (Va.) telco’s numbers were so disappointing that investors sent shares spiraling nearly 12%, to $17.75. “We do have much work to do to improve the recent performance of the wireless business,” Sprint Chief Executive Gary Forsee told analysts in a conference call…. Source: Business Week