Small satellite maker Sidus Space (NASDAQ:SIDU) stock soared nearly 30% Wednesday after it announced that it had signed an agreement with SpaceX for five launches for its LizzieSat satellites.
Shares of Sidus opened at $4.15, reaching a high of $4.22 in early trading before slipping to a low of $3.21. The stock recently traded at $3.42, up 29% from Tuesday’s close, at approximately 10:45 a.m. ET.
Sidus said Wednesday that the launches, which are slated to begin in 2023, will support existing contracts with NASA and Mission Helios along with prospective customers.
Sidus, which designs and manufactures small satellites and space-related hardware, went public on Dec. 14 through an IPO that raised $15M.
Image and article originally from seekingalpha.com. Read the original article here.