Elastic Networks Continues Climb

By TSC Staff ,

Elastic Networks (ELAS) was up 10.4% in early trading, continuing a climb that saw the stock close up 44.7% on the day Tuesday. The company announced Tuesday a deal with Verizon Avenue, a unit of Verizon (VZ) - Get Report.

Under the deal, Elastic will supply its ethernet platform for a nationwide rollout of high-speed broadband services. Verizon plans to deploy Elastic's products to multi-tenant dwellings in 31 states, the company said.

Elastic also unveiled its new EtherLoop2 technology, which represents an increase in its speed and distance capability.

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