Why Terran Orbital Stock Rocketed 59% This Week
Shares of Terran Orbital (NYSE: LLAP) are rocketing 59.1% higher from where they closed last Friday, according to data from S&P Global Market Intelligence, after the satellite stock received a contract that was valued at 10 times its market cap.
Terran Orbital was awarded a $2.4 billion to design, build, and deploy 288 low-Earth orbit communications satellites for Rivada Space Networks, with an additional 12 satellites built as "spares."
Under the contract, Terran's subsidiary, Tyvak Nano-Satellite Systems, will act as the prime contractor to design and manufacture the approximately 500-kilogram satellites, integrate the communication payload, and perform the final satellite assembly, integration, and test. Rivada expects to begin deploying the constellation of satellites as early as 2025.
Source Fool.com
