Why Iridium Stock Soared by 22% This Week
2026-04-17 16:41:27 ET
Investors haven't been able to get enough of satellite stocks lately, and Iridium Communications (NASDAQ: IRDM) is benefiting handsomely from this. The major catalyst was a peer agreeing to be acquired by a famous, deep-pocketed company.
That meant a fine week for Iridium shareholders. Their stock rose by more than 22% over the period, according to data compiled by S&P Global Market Intelligence .
Iridium's peer in question is Globalstar , which landed prominently in the financial headlines on Tuesday after it signed a deal to be acquired by the always-ambitious Amazon . The cash-and-stock transaction is valued at more than $11 billion .
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