Stock prices for European space industry companies experienced dramatic increases on Thursday, driven by investor enthusiasm following Elon Musk’s SpaceX announcement of plans to go public through a stock market listing.
French satellite operator Eutelsat saw its stock price climb 10% during morning trading hours, while German satellite manufacturer OHB experienced a 12% increase and Luxembourg-based SES recorded gains of 3.5%.
The weekly performance has been even more impressive, with Eutelsat climbing 20% and OHB surging 32% over the course of the week. According to one trader who spoke with Reuters, the positive momentum for European satellite companies stems directly from SpaceX’s initial public offering filing submitted on Wednesday.
