Why Viasat Stock Was Surging This Week

According to data compiled by S&P Global Market Intelligence, Viasat (NASDAQ: VSAT) stock was up by more than 17% week to date as of early Friday morning. Investors were cheered by news of the next-generation telecom services provider's participation in a large project involving a communications system to enhance coverage far from Earth. Viasat broke the big news on Tuesday, when it divulged that it had officially joined the European Space Agency's (ESA) Moonlight initiative. This is an ambitious program crafted by the agency to develop a lunar-orbiting navigation and communications system. If properly implemented, the system promises to significantly boost these services for moon missions. Viasat said it will be the party tasked with designing and developing the communications network. This will be used by space craft such as lunar landers, orbiters, and other specialty vehicles. The company will also be responsible for establishing the necessary communications infrastructure on both the Earth and the moon's surface.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool