Shares of satellite communications provider jumped 4.3% in the morning session after the company signed an agreement with Karrier One to expand its Internet of Things (IoT) connectivity across the globe.
The partnership aimed to integrate Iridium’s satellite communication services into Karrier One’s telecom infrastructure. This move was intended to provide IoT connectivity in remote areas that traditional mobile networks could not serve, without the need for installing local base stations. The collaboration represented a step forward in connecting devices in hard-to-reach locations, potentially opening up new opportunities for Iridium’s satellite technology.
After the initial pop the shares cooled down to $18.41, up 4.3% from previous close.
Is now the time to buy Iridium? Access our full analysis report here, it’s free.
Iridium’s shares are quite volatile and have had 18 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 6 days ago when the stock gained 4.6% on the news that the latest Personal Consumption Expenditures (PCE) Price Index report aligned with economists’ predictions, signaling that inflation is under control. The Core PCE Price Index, which is closely watched by the Federal Reserve as it excludes volatile food and energy costs, rose 0.2% month-over-month and 2.9% year-over-year. These figures precisely matched Wall Street estimates. This alignment provides relief for investors and reinforces the market’s belief that inflationary pressures are being managed without harming economic growth. The positive market reaction highlights a growing conviction that the Federal Reserve will likely proceed with its anticipated path of interest rate cuts, which would make capital cheaper and help stimulate further economic expansion.
Iridium is down 37.8% since the beginning of the year, and at $18.41 per share, it is trading 45.2% below its 52-week high of $33.57 from October 2024. Investors who bought $1,000 worth of Iridium’s shares 5 years ago would now be looking at an investment worth $698.18.
Today’s young investors likely haven’t read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
Shares of satellite communications provider jumped 4.3% in the morning session after the company signed an agreement with Karrier One to expand its Internet of Things (IoT) connectivity across the globe.
The partnership aimed to integrate Iridium’s satellite communication services into Karrier One’s telecom infrastructure. This move was intended to provide IoT connectivity in remote areas that traditional mobile networks could not serve, without the need for installing local base stations. The collaboration represented a step forward in connecting devices in hard-to-reach locations, potentially opening up new opportunities for Iridium’s satellite technology.
After the initial pop the shares cooled down to $18.41, up 4.3% from previous close.
Is now the time to buy Iridium? Access our full analysis report here, it’s free.
Iridium’s shares are quite volatile and have had 18 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 6 days ago when the stock gained 4.6% on the news that the latest Personal Consumption Expenditures (PCE) Price Index report aligned with economists’ predictions, signaling that inflation is under control. The Core PCE Price Index, which is closely watched by the Federal Reserve as it excludes volatile food and energy costs, rose 0.2% month-over-month and 2.9% year-over-year. These figures precisely matched Wall Street estimates. This alignment provides relief for investors and reinforces the market’s belief that inflationary pressures are being managed without harming economic growth. The positive market reaction highlights a growing conviction that the Federal Reserve will likely proceed with its anticipated path of interest rate cuts, which would make capital cheaper and help stimulate further economic expansion.
Iridium is down 37.8% since the beginning of the year, and at $18.41 per share, it is trading 45.2% below its 52-week high of $33.57 from October 2024. Investors who bought $1,000 worth of Iridium’s shares 5 years ago would now be looking at an investment worth $698.18.
Today’s young investors likely haven’t read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
