Why Viasat Stock Blasted 29% Higher This Week
Over the past few trading days, Viasat (NASDAQ: VSAT) stock ascended like a gravity-defying spacecraft. Shares of the satellite communications specialist ballooned in price, rising by 29% this week, according to data compiled by S&P Global Market Intelligence.
Much of that pop was due to Viasat's news, released on Tuesday, that it earned some work from a well-funded arm of the federal government.
Specifically, this is the National Aeronautics and Space Administration (NASA), which has included the company in its $4.8 billion Near Space Network (NSN) contract. This five-year, multi-award, indefinite delivery and quantity project aims to establish ground and space relay services from low Earth orbit to 2 million kilometers away from our planet.
Source Fool.com
