Maxar, Blacksky, Planet Labs Stocks Rise on Contract Awards

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by Will Feuer

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Maxar Technologies Inc., Blacksky Technology Inc. And shares of Planet Labs PBC rose in afternoon trading after the National Reconnaissance Office, an agency of the US Defense Department, awarded them multi-year contracts.

Shares of satellite imaging and space technology company Maxar rose more than 14% to $27.96 per share after trading resumed.
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Shares of BlackSky, a Philadelphia, Penn., geospatial intelligence company, jumped nearly 70% to $2 per share. Planet stock rose more than 15% to $5.78 per share.

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Stock moves helped all three companies offset the decline in the stock’s price so far this year.
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Shares of Maxar are down just 6% so far this year, while Planet stock is down 8%. BlackSky stock is down 55% over the same period.

The NRO said the contracts, which Maxor said are five-year base contracts with an option for five additional years until 2032, are worth billions of dollars over the next decade.

Write to Will Feuer at [email protected]

Credit: www.marketwatch.com /

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