Why Spire Global Stock Was Spiraling Higher This Week

There's nothing like a nine-figure contract to give a company some powerful bullish momentum. That's been the case over the past few days with space technology solutions company Spire Global (NYSE: SPIR), following its announcement that it won a big-ticket project from the federal government.According to data compiled by S&P Global Market Intelligence, Spire's share price was up just shy of 20% week to date as of early Friday morning as a result.After market close Wednesday, Spire announced that the U.S. Space Force had selected it, among a clutch of companies, for a 10-year contract to supply materials for satellites operated by the military branch. This is an indefinite quality/indefinite quantity contract, and it falls under the Force's Space Test Experiments Platform (STEP) 2.0 initiative. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool