Why Cambium Networks Stock Is Skyrocketing Today
Despite a bearish backdrop for the broader market, Cambium Networks (NASDAQ: CMBM) stock is soaring Thursday. The company's share price was up 38.3% as of 1:30 p.m. ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) was down 0.5%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down 1.1%. The stock had been up as much as 130.5% earlier in the session.
Cambium's valuation is soaring today following news that its network technologies will be integrated with SpaceX's Starlink service. The stock is now up 534% year to date as of this writing.
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Source Fool.com
