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Markets · Investing · Business
Finance
Why Viasat Stock Went to the Moon Today
Putting tiny satellites in far-off GEO orbit is a thing now, and Viasat will help build them.
Viasat (NASDAQ: VSAT) stock soared to close up 18.2% Thursday after announcing the U.S. Space Force has awarded it a contract for "a mini-GEO dual X/Ka-band satellite system" -- which is to say a small communications satellite prototype that will operate in geosynchronous orbit more than 22,000 miles from Earth.
Image source: Getty Images.
Viasat describes this as the first of a series of awards to build a "proliferated fleet of small, maneuverable geosynchronous Earth orbit (GEO) satellites under the Protected Tactical SATCOM-Global (PTS-G) program." This first award of the series is called the "PTS-G Swarm 1 Delivery Order."
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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