We’re shooting for the stars this week as we outline our top satellite stocks that you can trade right now. After that we’ll review what’s coming up this week in terms of trading events. Let’s go!
Wait, what’s a satellite stock?
It’s not just a clever name, we’re talking about stocks in tech companies within the satellite industry. Yep, actual outer-space satellites!
These galactic gizmos are hot property right now, and for good reason. Globally, the satellite industry generated around 271 billion US dollars in revenue in 2020 (and that’s down from an even more whopping 277 billion in 2018!).
Much of the growth over the last 15 years has been down to the big things stirring in the satellite communications industry. Using the tech in next-gen smartphones would bring a whole new dimension of communication for all of us. Simply put, satellite-enabled phones would be able to make calls and send messages even in areas without 4G/5G coverage. Ground breaking!
The hottest satellite stocks right now
So, with all of that in mind. Here are some of the top stocks to trade right now
#1 Iridium Communications (IRDM)
Iridium delivers reliable telecommunications services to millions across the globe via it’s Satellite Constellation system. The company’s Iridium Certus solution is the most advanced broadband solution in the world and has recently been approved for use by the Japanese government.
This summer, Iridium saw record subscriber growth, taking it over 1.6 million, a rise of 19% YoY. Total revenue for the quarter sat at $149.9 million. Stock price has risen 16% from the start of the year, with plenty of volatility to keep traders interested.
#2 Boeing Company (BA)
Boeing is a multinational company that designs and sells satellites, aeroplanes, and other telecommunications equipment. It has customers in over 150 countries, from a range of industries, including communications, military and commercial aviation.
In late July, the company reported its second-quarter financials. Diving in, Boeing posted a revenue of $17 billion for the quarter. BA stock currently trades around the $213 mark and is up by over 5% this year.
#3 Maxar Technologies Inc. (MAXR)
Maxar specialises in radar and on-orbit servicing satellites, as well as general satellite products.
This one is a bit of a stretch. Stock price is actually down by 16% this year, but a recent deal with long-term customer SiriusXM, could well reverse those losses. The US-based broadcast company has purchased satellites from Maxar for well over 20 years and the latest contract shows that their best customer still has the faith.
If you have the mettle for it, this one could be one to watch.
What do you think?
How do you feel about our list? If you have any other top tips, we’d love to know what they are — tweet us at @_contentworks; and if you’re looking for more insightful fintech marketing content, do give us a follow!
Top trading events this week
We’re in for another busy week this week. Let’s see what’s on the agenda.
● No major events are planned.
● No major events are planned.
● JPY — BoJ Interest Rate Decision
● USD — FOMC Economic Projections; Fed Interest Rate Decision; Fed Press Conference
● GBP — BoE Interest Rate Decision
● USD — Markit Manufacturing PMI Flash (SEP)
● JPY — Inflation Rate YoY (AUG)
● EUR — German Ifo Business Climate (SEP)
Here at Contentworks we closely follow market movements and prep content that we think your traders would love to read. Let’s get you started right here.
The Contentworks team