It was a hard day on the markets for investors in Blacksky Technology Inc (NYSE:BKSY) as the stock went through a selloff and ended up with a decline of as much as 9% for the day.
BlackSky Sets New Standard for Agile Satellite Operations to Support Customers During Ukraine Crisis
Despite the selloff in the stock price it may be necessary for investors to consider taking a look at the announcement from the company on Monday. It was announced that BlackSky had managed to demonstrate its capability of shifting orbits rapidly and launch as many as two satellites. It also noted that it also now had the capability of collecting images from over Ukraine in a time period of 45 days.
It was a major announcement from the company but it did not quite create any excitement among investors and the stock suffered from a significant selloff. BlackSky also announced that it had also managed to bring about a rise in its constellation capacities and would now be able to provide its clients with imager products and analytics from dawn to dusk.
At this point in time, it may be a good idea for investors to consider adding the stock to their watch lists and watch out for further announcements from BlackSky in the coming days.
Key Quote
“We’re setting a new standard in the new space industry for speed, resilience, and agility,” said Brian E. O’Toole, BlackSky CEO. “Our two newest satellites went from launch to delivering images of Ukraine to customers on day one.”
Technical Data
BKSY stock is trading below the 20-Day and 200-Day Moving averages of $1.94 and $2.16 respectively. Moreover, the stock is trading below the 50-Day moving average of $6.88.
