WISeKey, SEALSQ Shares Rally On Successful Space X Launch Of Quantum-Ready Satellite : Retail Mood Remains Tepid
Synopsis
The satellite is a part of WISeSat’s initiative to provide real-time, secure IoT connectivity through a constellation of post-quarum-ready satellites. The company plans to launch five more satellites this year.
U.S.-listed shares of WISeKey International Holding Ltd. (WKEY) and its subsidiary, SEALSQ Corp. (LAES) rallied in morning trade on Wednesday on the successful launch of its satellite into orbit by the SpaceX Falcon 9 rocket.
WISeKey shares climbed over 13%, while SEALSQ saw a sharp jump of more than 30%.
The satellite features post-quantum-ready security and SEALSQ semiconductors, which the company dubs a significant advancement in quantum-resilient technologies.
The satellite is a part of WISeSat’s initiative to provide real-time, secure IoT connectivity through a constellation of post-quarum-ready satellites.
The company plans to launch five more satellites this year for its system built on WISeKey's Root of Trust, SEALSQ's Post-Quantum Cryptographic Chips, and Hedera distributed ledger technology for enhanced security and data integrity.
On Stocktwits, retail sentiment around WISeKey’s stock remained tepid in the ‘neutral’ zone as chatter dipped to ‘normal’ from ‘high’ levels, seen one day prior.
Meanwhile, retail sentiment around SEALSQ improved to ‘bullish’ from ‘neutral’ a day ago with chatter at ‘high’ levels.
One user advised others to not short the stock given the bullish sentiment around the broader quantum sector.
Others pointed out that the stock has strong support at these price levels, anticipating the stock to maintain its gains, if not surge further during the day.
However, not everyone shared the optimistic view. One user said that technical indicators point to SEALSQ’s stock dropping below $3 by the end of the day.
SEALSQ has benefited from growing interest in quantum computing, with its stock soaring over 80% in the past year.
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