Florida’s Sidus Space Inc (NASDAQ: SIDU) had lift off on Monday, rising by over 220 per cent. However, the exact cause remains uncertain.
Some have speculated that a short squeeze may be responsible for the cosmic tech company’s rapid rise on the Nasdaq.
“This is what a short squeeze looks like, violent!” one space-focused X account with over 26,000 followers commented. “I’d approach this stock with extreme caution right now.”
On another note, technicians recently completed the company’s “LizzieSat-2” satellite and are preparing to launch it in four days, but that positive development doesn’t exactly account for such a rapid share spike. Elon Musk’s SpaceX will send it into the cosmos aboard the Falcon 9 rocket’s Bandwagon-2 rideshare mission, alongside other satellites. It will collect an assortment of data.
“By integrating advanced sensor technology, leveraging on-orbit processing and offering data-as-a-service capabilities, LizzieSat-2 is designed to provide actionable insights that support applications across government, defence, intelligence and commercial sectors worldwide,” Sidus specified in a news release on Nov. 26.
Rumours are swirling that Musk is considering acquiring Sidus too. His renowned astronautics company and the Florida-based aerospace operator have had an ongoing partnership for over two years.
SpaceX launched the original LizzieSat devices into orbit in January and March. These satellites are made with the assistance of 3D printers. They are equipped with state-of-the-art AI and sensor technology.
$SIDU +237% 😱
Why settle for a 100% gain yearly when you could aim for 200%+ daily instead?
Sidus Space is expected to launch their next-gen LizzieSat-2 on Dec 20. pic.twitter.com/qoT9L4lpck
— Space Investors Daily 🚀 (@SpaceInvestor_D) December 16, 2024
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Sidus initiates knowledge-sharing collaboration with German startup
The satellite data company established a partnership with Reflex Aerospace last month to share insights that could be beneficial for future space endeavours. This is another one of Sidus’s latest notable developments.
“By combining Sidus’ space heritage and mission expertise with Reflex Aerospace’s agile satellite manufacturing, we can leverage each other’s strengths,” Sidus founder Carol Craig said in a statement on Nov. 21.
They will begin working together early next year.
Sidus has been struggling financially in recent years. Research, development and manufacturing costs have been exceeding cash flow, but that may only be temporary.
The data collection specialist was founded in 2014 and completed its IPO at the end of 2021.
A List of Space Stocks:
Launch Services Providers$RKLB Rocket Lab$SPCE Virgin Galactic
Space Infrastructure and Services$LUNR Intuitive Machines$RDW Redwire Space$MNTS Momentus$LLAP Terran Orbital$SIDU Sidus Space
Satellite Communications$ASTS AST SpaceMobile$SATS… pic.twitter.com/TweogFtLYn
— Lin (@Speculator_io) October 22, 2024
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