Harmonic Stock Sings After Comcast Warrant Deal

Harmonic shares flirted with a new 52-week high Wednesday, closing at $5.83 per share, up $1.17 each or 25.1% after it said it had reached a deal with Comcast that would allow the cable operator to buy shares in the tech vendor based on product sales and deployment milestones.

The deal is similar to others Comcast has reached with vendors like Arris and Universal Electronics.

According to the Harmonic deal, Comcast can purchase up to 7.8 million shares of the tech company at $4.76 per share.

Harmonic stock already passed that milestone, rising as high as $5.99 per share on Wednesday (up 28.5%), nearing its 52-week high of $6.31 each. It was the highest point for the stock since November.