This Small-Cap Space Stock Rocketed 500% Last Week, and You Probably Didn't Notice
Eutelsat is a penny stock, sort of. But there may be a solid reason why it's growing.
A funny thing happened on the way to President Donald Trump's tariffs war, and his threats to pull out of Nato and cut off military aid to Ukraine. Europe discovered it needs to spend more on its own defense.
Shares of European defense companies have been on an upsurge ever since. One European satellite company in particular caught my eye last week when it suddenly rocketed more than 500% over just five days of trading: From Feb. 28 through March 5, shares of satellite telecommunications stock Eutelsat (OTC: ETCM.Y) -- which you can mentally pronounce to yourself as "EU telsat" as a reminder of what it is -- jumped from just $0.35 per share to close at $2.21. It's given back some of those gains over the last few days, granted, but at Friday's prices, remained up more than 300% from its price at the end of February.
What's behind this insanely good performance from a little-known (in the U.S., at least) space stock?
