Space Industry Plays Vital Role In Israel-Hamas Conflict As Escalation Ramps Higher, Possible Ground Invasion Nears
Portfolio Pulse from Melanie Schaffer
The escalating Israel-Hamas conflict has highlighted the importance of the space industry, particularly for communication, navigation, and imaging. Companies like Tesla's SpaceX have previously provided vital services in such conflicts. The ongoing conflict has increased the importance of space industry companies and thematic funds like ProcureAM's Space ETF (NASDAQ:UFO). Planet Labs PBC (NYSE:PL) and Globalstar, Inc (NYSE:GSAT) are directly involved in the current crisis, providing imaging and satellite communications respectively. UFO has been trading in a downtrend since August 10, but a reversal may be on the horizon.
October 23, 2023 | 4:59 pm
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POSITIVE IMPACT
Globalstar, Inc (NYSE:GSAT) is directly involved in the current Israel-Hamas crisis, powering satellite communications.
Globalstar's direct involvement in the crisis by powering satellite communications could potentially impact its stock performance.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Planet Labs PBC (NYSE:PL) is directly involved in the current Israel-Hamas crisis, providing high-quality imaging to news organizations and governments.
Planet Labs' direct involvement in the crisis by providing high-quality imaging could potentially impact its stock performance.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
ProcureAM's Space ETF (NASDAQ:UFO) has been trading in a downtrend since August 10, but a reversal may be on the horizon due to the escalating Israel-Hamas conflict.
The escalating conflict has increased the importance of space industry companies and thematic funds like UFO. This could potentially lead to a reversal in its current downtrend.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100