Elon Musk Hails SpaceX's Competitive Edge After Boeing Abandons Satellite Constellation Plans
Portfolio Pulse from Anan Ashraf
Boeing Co (NYSE:BA) has abandoned its plans to operate a satellite constellation in low Earth orbit, similar to SpaceX's Starlink. Boeing had received approval for a 147-member V-band satellite constellation in November 2021, but has now given up its license and paid a $2.2 million forfeiture fee to the FCC. Boeing is also struggling with its Starliner spacecraft, with the first crewed flight pegged for 2024, while SpaceX is preparing for its eighth operational crew rotation to the ISS.
November 01, 2023 | 2:58 am
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Boeing's decision to abandon its satellite constellation plans and the ongoing struggles with its Starliner spacecraft could negatively impact investor confidence and the company's stock price in the short term.
Boeing's decision to abandon its satellite constellation plans represents a significant strategic shift and could be seen as a sign of weakness in the face of competition from SpaceX. Additionally, the ongoing issues with the Starliner spacecraft could further erode investor confidence in the company's ability to execute on its plans in the space sector. Both of these factors could put downward pressure on the company's stock price in the short term.
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