SEALSQ Stock Tumbles Despite Landing Multi-Million-Dollar Smart Meter Deal, SpaceX Launch Agreement: Retail’s Bearish

SEALSQ announced that it has reached an agreement with Elon Musk-led SpaceX to launch six next-generation satellites in 2025.

Shares of SEALSQ Corp. (LAES) tumbled nearly 40% in mid-day trade on Wednesday to trade near the $4.40 mark at the time of writing.

The SEALSQ stock price witnessed volatile movements over the past week, with the company’s shares seesawing amid a slew of announcements.

SEALSQ is a 25-year-old Swiss semiconductor company that develops secure embedded firmware and trusted hardware provisioning services in addition to chips.

This week, the company landed a multi-million-dollar smart meter deal in the UK, wherein it will supply its VaultIC 408 secure microcontroller.

This microcontroller will be used in smart meters across the UK as part of a government program.

Moreover, SEALSQ also announced that it has reached an agreement with Elon Musk-led SpaceX to launch six next-generation satellites in 2025. This is part of its collaboration with WISeSat, and the launch is scheduled for Jan. 14 from the Vandenberg Space Force Base in California.

This is also a part of SEALSQ’s satellite-as-a-service model, allowing users to access cutting-edge satellite infrastructure without maintaining complex hardware.

SEALSQ will launch its satellite constellation, enabling its clients to perform machine-to-machine transactions via space.

Despite this, retail sentiment on Stocktwits remained in the ‘bearish’ (41/100) territory on Wednesday, while message volume entered the ‘high’ (61/100) zone.

Users posted mixed messages about SEALSQ’s stock price, though.

While some were bullish about the company’s prospects, not everyone was convinced.

The SEALSQ stock price has gained more than 452% over the past six months, but its one-year returns stand at 244%.

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