July 13, 2017 / 11:59 AM / 3 years ago

BUZZ-DragonWave Inc: Shares plunge on weak Q2 report

** U.S. listed shares of Canadian wireless networking equipment maker plunge 31 pct to 75 cents premarket following disappointing Q2 results on Wednesday

** On track to end 3-day winning streak that added about 25 pct to stock’s value

** Posts bigger loss as lower expenses fail to offset a 28 pct drop in quarterly revenue

** DragonWave had said in May that it was looking for strategic alternatives in relation to liquidity and operating conditions

** “We are pursuing what has emerged from this work, and expect to be able to report on the forward plan in the near term” - CEO Peter Allen in Wednesday’s statement

** Up to Wednesday’s close, stock had more than halved in value YTD

0 : 0
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