2023-07-25 13:31:55 ET
A Virginia-based small cap is making major waves on Tuesday after the company announced that it was awarded a €16 million phased contract for the %EURIALO project, which will develop the preliminary design and demonstrator for a global space-based independent aircraft surveillance system, according to the release.
Naturally this sent shares of %SpireGlobal (NYSE: ) soaring after the opening bell, with shares reaching up to $0.69/share (+9.70%) at the session high. This move is a breath of fresh air for long-term shareholders that have been riding the YTD downtrend.
Spire Global Inc is a provider of space-based data, analytics, and space services, offering access to datasets and powerful insights about Earth from the ultimate vantage point so that organizations can make decisions with confidence, accuracy, and speed. The company uses multi-purpose satellite constellations to source hard to acquire, valuable data and enriches it with predictive solutions.