Why BlackSky Technology Stock Soared Today
Key Points
BlackSky Technology stock gained ground today in conjunction with bullish momentum for the broader market.
Hopes that trade-war and debt-ceiling disputes will be resolved helped power gains for stocks today.
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BlackSky Technology (NYSE: BKSY) stock banked solid gains in Monday's trading. The satellite technology company's share price gained 9.4% in the day's trading. Meanwhile, the S&P 500 rose 1.1%, and the Nasdaq Composite ended the day's trading with gains of 1.3%.
The stock market surged today as investors got some encouraging news on negotiations in Congress and on the U.S.-China trade front. With today's pop, the company's share price is now up approximately 148% in 2025.
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BlackSky rises as investors pile back into growth stocks
The stock market has been volatile recently as investors have focused on risks related to trade disputes, debate about the debt ceiling and budgetary matters in Congress, and other factors. Despite some recent pressures, investors took assurances about potential resolutions and de-escalations for trade-ware and debt-ceiling issues as bullish indicators and heavily bought back into stocks on Monday. BlackSky's jump today has pushed the company's market capitalization up to approximately $948 million.
What's next for BlackSky?
BlackSky is scheduled to publish its third-quarter results and issue new business-outlook guidance before the market opens on Nov. 6. With its last business update, the company said that it expected full-year sales to come in between $105 million and $130 million.
Management also said it expected non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA) to come in between break-even and $10 million. Meanwhile, capital expenditures were projected to come in between $60 million and $70 million. Following some recent contract announcements, investors may be looking for the company's sales performance to come in above the target range management last suggested.
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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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