LLAP - Terran Orbital Stock Just Rocketed 70%. Did It Deserve To?
2023-03-04 07:07:00 ET
Call it "the rocket blast heard round the world."
Last week, in an announcement that took the stock market completely by surprise , recent space SPAC and satellite manufacturer Terran Orbital Corporation (NYSE: LLAP) announced a deal to build some 300 satellites for wireless communications company Rivada Space Networks. The total value of the contract: $2.4 billion.
Suffice it to say that this sounds like a big contract for a start-up like Terran Orbital to win -- big enough to drive Terran Orbital's stock price up more than 70% in a single day, and for good reason. Over the past 12 months, Terran generated barely $73 million in sales (and according to data from S&P Global Market Intelligence , $171 million in losses). When you consider that all Terran Orbital stock in existence today has a total market capitalization of only $390 million, the size of Terran's new multi- billion -dollar contract looms even larger.
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Terran Orbital Stock Just Rocketed 70%. Did It Deserve To?