As per the latest reports, Maxar Technologies has reportedly experienced a drop in its stock prices. Maxar Technologies is a major space company that is already listed on the stock exchange. It was on Thursday, August 5, 2021, when the share prices for Maxar Technologies experienced a drop.
The reports show that even the trading for the shares for Maxar Technologies experienced a drop. The reason behind the company facing a drop in the share prices is because of the delay it faced for another launch of the satellites.
It was highly anticipated that the company was going to launch the imagery satellites into the space that are considered next-generation.
However, Maxar Technologies went ahead and dropped sad news on the followers of the company as well as the stakeholders. The company went public announcing that it had delayed its launch for the next-generation satellites.
Dan Jablonsky, the CEO at Maxar Technologies was the one who dropped the news on the public about the delay of the launch. He announced that the company had decided to delay the launch of the next-generation imagery satellites.
He revealed that the company had decided that the company has decided to launch the new satellites in the year 2022. Initially, Maxar Technologies had announced that it was going to launch the new next-generation satellites in the fourth quarter of 2021.
This information was shared by Dan Jablonsky in the earnings call that was held on Wednesday, August 4, 2021, for the second quarter of 2021.
As per the data from the stock exchange, the stock prices for the company experienced a 14.1% drop and its price landed at $29.21 per share. However, the company had been experiencing a rise in its share prices in the initial months of the year 2021.
The start of the year was turning out to be very profitable for Maxar Technologies. Even some of the major investment firms such as Morgan Stanley and Goldman Sachs had gone ahead and shared their buying rates for the company.
Surprisingly, back in January of 2021, the share prices for Maxar Technologies were above $50 per share. However, the share prices of Maxar Technologies are almost half the share price the company had experienced back in early January of 2021.
The first project for the company is the WorldView Legion, which is a six imagery satellites’ constellation for the company.
The project is of really high importance to the company, as it is going to help it win lucrative contracts from the intelligence and defense agencies in the United States.
However, the first legion that the company has aimed at launching has been facing many pushbacks. As a result, the company is now hoping that it manages to launch the imagery satellites between March and June of 2022.