Baystreet Staff - Wednesday, June 7, 2017 DragonWave Stock Takes Flight on Contract with SmartSky Networks The news didn't come out until after Tuesday's closing bell, positioning traders to jump all over shares of DragonWave Inc. (TSX:DRWI) (NASDAQ:DRWI) in Wednesday trading action if they saw value in the announcement. Apparently they did. Toronto-listed shares were the highest moving equity listed on the TSX, ballooning more than 72% when all the dust settled.The Ottawa-based supplier of packet microwave radio systems said that it received a product supply and installation services contract from SmartSky Networks, a North American 4G LTE inflight service provider. Details of the contract were not disclosed, but it was made known that SmartSky is flush with cash after hitting milestones and securing a $170-million Series B funding at the end of March.DragonWave only said that SmartSky will deploy its Harmony Enhanced and Harmony Enhanced MC products to provide high-capacity backhaul for its ground to air 4G LTE network, which should promise seamless in-air connections.After Wednesday's closing bell, DragonWave also said that it received a positive Nasdaq listing determination on Tuesday. The determination means that the company can continue to be listed on the Nasdaq exchange while it works to meet the requirement of $2.5 million in stockholder equity. DragonWave has until October 17 to fulfill the requirment. The TSX listing is unaffected by the Nasdaq notice.After closing at an all-time low of 87 Canadian cents on Tuesday, shares of the embattled company searching for a restructuring game plan sprinted ahead 72.4% to close Wednesday at C$1.50. U.S-listed shares climbed 71.9% on the day to close at US$1.11.