What’s Driving Maxar Technologies (MAXR) Stock Up Today?

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The reliable and innovative Earth Intelligence and Space Infrastructure firm, Maxar Technologies Inc. (MAXR) stock has been rising more than 4.45% to $48.63 today. Apparently, there was no news related directly to the stock’s price surge, but indirectly it’s a filing of documents by ARK Invest, to begin with, a new space exchange-traded fund.

What The Company Do:

The company provides disruptive technologies to governments and businesses to monitor, understand, and navigate a changing world, deliver global broadband services, and also to explore and advance in space exploration. Its unique approach combines decades of deep mission expertise with proven commercial and defense capabilities to deliver insights with unprecedented speed, scale, and efficiency. With over 4,000 team members spanning 20 global locations, Maxar is dedicated to enabling its customers to create a better world.

Recent Developments and News Updates:

The creation of a new ETF came to be raising stock prices of all major players in the sector that is far to be mature yet. It also highlights the rising demand for space stocks which has been driving the market player today to grab those to get the most out of it in the coming months.

SXM-7, a Maxar radio satellite, has recently been launched on a SpaceX Falcon 9 rocket from Cape Canaveral, Florida, on December 12, 2020. The company reported that shortly after the successful launch, the SXM-7 started receiving and sending signals.

SXM-7 will ensure consumers continue to receive SiriusXM’s music entertainment and news services as well as expand the coverage area of that in Canada and the Caribbean for years to come.

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