Eutelsat’s stock price is rising and has increased threefold in just two days.
Eutelsat’s share price continues upward and triples in two days (Image Credit: Sat News)
Eutelsat’s shareholders enjoyed a rise in the Paris-based satellite operator’s value, up 82 percent in value to €3.66 per share. When the shares hit the high of €4.49 some investors took their profits.
What makes this remarkable is that the value of the current shares have increased in just two days to become triple in value from the €1.15 of a few weeks ago.
As would be expected the number of transactions in this high totaled 12.87 million shares that changed hands when Eutelsat’s normal daily trading is some 540,000.
If success is to continue a great deal depends on the European Union’s plans to participate in Eutelsat’s OneWeb division as an alternate European source of fast broadband, thereby replacing SpaceX’s Starlink smallsats, a product of Elon Musk. OneWeb has more than 650 active satellites circling the Earth, and are ready for use.
Eutelsat wasn’t the only company that experienced an upward ride in the stock market. On March 4th SES shares rose 14 percent to €5.25, and an increase of 31.25 percent over the past five days (and 61 percent over the past month). While the luxembourg-based SES has its own fleet of Mid-Earth satellites from O3b mPOWER, their spare capacity on the fleet is limited.
