This Little-Known Space Company Forecasts Parabolic Hypergrowth
BlackSky Technology (NYSE: BKSY) missed analyst forecasts for both sales and earnings earlier this month, but investors didn't seem to mind very much. Shares of the commercial spy satellite operator actually closed out last week above $8, gaining about 9% from their pre-earnings price.
Considering that this space stock missed analyst sales forecasts by more than 18% (sales were $22.5 million rather than the $27.5 million forecast), and missed on earnings, too (losing $0.66 per share instead of just $0.65), investors' enthusiasm for the stock is a little surprising. Maybe more than a little, considering the stock has been relatively unpopular among space investors since conducting a reverse stock split in September.
Ordinarily, the math of "reverse split plus earnings miss equals rising stock price" wouldn't seem to add up. So why is BlackSky stock on the rise these days?
Source Fool.com
