Last week, shares of Loral Space & Communication (LORL) grinded higher despite seemingly negative industry news of further delays for its revolutionary low earth orbit (“LEO”) satellite constellation.
Recall that Elon Musk considers LEO high speed, low latency, pervasive and global satellite internet to be a $1T/year total addressable market for his SpaceX (SPACE) StarLink business, and Amazon (AMZN) Kuiper was approved by the FCC last week, indicating plans to invest $10B+ in its LEO constellation. Moreover, OneWeb — formerly backed by SoftBank — was purchased out of bankruptcy