WISeKey Stock Rockets To Over Two-Year Highs On SpaceX-Backed Satellite Launch: Retail Sees ‘Major Growth’ Ahead
By Stocktwits Inc | First Published Dec 17, 2024, 1:05 AM ISTData from the platform shows that investors watching the stock increased by over 10% in the 24 hours ending Friday, as message volume increased 17-fold.
WISeKey International Holding Ltd, a Switzerland-based cybersecurity firm, saw its U.S.-listed shares soar over 60% on Monday, extending gains from a 136% rally on Friday.
The surge came as the company prepares to launch its next-generation post-quantum-ready satellites with Elon Musk-owned SpaceX, sparking a flurry of retail investor interest.
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The stock hit an intraday high of $14 in early trading before settling at $12.88, marking its highest level since January 2022. WISeKey has now gained nearly 600% year-to-date, with most of the rally occurring in the past week.
The stock was among the top trending tickers on Stocktwits. Data from the platform shows that investors watching the stock increased by over 10% in the 24 hours ending Friday, as message volume increased 17-fold.
SpaceX’s upcoming launch on Jan. 14 will deploy WISeSat satellites, which incorporate WISeKey’s Root of Trust technology and SEALSQ post-quantum chips.
This system integrates cybersecurity with satellite technology, offering secure real-time connectivity for IoT devices in industries such as logistics, agriculture, energy, and infrastructure management.
The nanosatellite constellation aims to provide global coverage with post-quantum encryption, making it a pioneer in secure satellite communications.
Retail sentiment around the stock improved to ‘extremely bullish’ from ‘bullish’ a day ago as chatter surged to ‘high’ after being at ‘normal’ levels over the weekend.
However, not all investors are convinced of sustained growth. According to an ongoing poll on Stockwtits, some believe it could be a short-term ‘pop’ that will eventually correct itself.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
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