DragonWave, Inc. (USA) (NASDAQ: DRWI) is off to an incredibly strong trading session in the market today, and for good reason. The company announced that it has been awarded a new contract. Of course, this led to excitement among investors, causing gains in the stock and prompting an alert from our partners at Trade Ideas. At the moment (11:05), DRWI is trading at $1.23 per share after a gain of $0.12 per share or 10.81% thus far today.
DRWI Gains On New Contract
As mentioned above, DragonWave is having an incredibly strong day in the market today after announcing a new contract. The contract that was awarded is a product supply and installation services contract that was signed by SmartSky Networks. SmartSky Networks is a North American 4G LTE inflight service provider.
Under the terms of the contract, SmartSky will soon take advantage of Harmony Enhanced and Harmony Enhanced MC products provided by DRWI. These products are designed to provide high-capacity backhaul for the ground to air 4G LTE network. In a statement, SmartSky Networks Vice President of Services and Architecture, Dave Claassen, had the following to offer…
“The DragonWave Harmony Enhanced MC product solution offers our desired capacity requirements for SmartSky… Harmony Enhanced MC delivers simple installation, operation and sophisticated remote management, so we are thrilled to partner with them to further enhance SmartSky’s capabilities.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on DRWI. In particular, we’re interested in learning more about the company’s relationship with SmartSky and watching as this relationship turns into a profitable move for the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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