Why Viasat Stock Was Zooming Higher Today
Like one of its foundational assets, satellite company Viasat's (NASDAQ: VSAT) stock was ascending skyward on Wednesday. This was entirely justifiable, as the company announced it had signed a supply contract with one of the best-funded and most reliable clients on the scene. The stock's 10%-plus rise was far more robust than the S&P 500 index's 0.5% increase at that point in the trading session.
Before market open that day, Viasat announced it was one of five companies that had secured a prime contract award from that major client, the U.S. military's Space Force. The company will design and develop a satellite system for a project that ultimately aims to put a dedicated satellite network in space.
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Source Fool.com
