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DragonWave, Inc.(USA)(NASDAQ:DRWI) Gains in Pre-Market Trading

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By on Technology & Software

DragonWave, Inc.(USA)(NASDAQ:DRWI) shares gained in pre-market trading following a positive article on the Seeking Alpha blog. 

The article said the maker of microwave equipment for telecommunications networks has “big upside potential in 2014,” predicting Dragonwave will benefit from renewed spending on telecom networks by wireless providers. That spending includes $10 billion by India’s Reliance Jio for a 4G wireless network. 

The stock gained 5.3% to $1.78 a share in recent pre-market trading Friday. It has traded from $1.08 to $3.58 in the past 52 weeks. 

Reliance “will need to use microwave to support the roll-out and will be doing their previously announced major infrastructure expansion in 2014, which should prove to be a major catalyst for DragonWave,” according to the article by Matthew Dow of Magically Invested, who disclosed he is long on Dragonwave. He said Sprint Corp. (S) will also spend more money on wireless networks after last year’s takeover by Softbank Corp. 

DragonWave, Inc.(USA)(NASDAQ:DRWI) is set to report fiscal Q1 earnings results after markets close on July 9. 

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