Jim Cramer on HawkEye 360: “This Is Another One That Blew Up in My Face”

HawkEye 360, Inc. (NYSE:HAWK) was among Jim Cramer’s stock calls on Mad Money, as he highlighted worthy space players and reviewed several of this year’s IPOs. Cramer noted the possible reason for the stock’s decline, as he commented:

Next, about a month ago, I gave my blessing to HawkEye 360, which is a space and defense company, 30 satellites that it uses to gather signals intelligence for the governments around the world. Now, this is another one that blew up in my face, pulling back from $33 to $24 on very little company-specific news. Even though the analysts are pretty darn bullish about this one, I think this is a case where people have sold the satellite stocks, again, in order to raise funds to buy SpaceX… I knew the SpaceX IPO would suck in money from the rest of the market, and HawkEye 360 was an obvious target.

A stock market chart. Photo by Arturo A on Pexels

HawkEye 360, Inc. (NYSE:HAWK) operates a satellite constellation that provides radio frequency intelligence and signal processing to defense and national security agencies. The company offers specialized tracking of radars, communications, and maritime activity to deliver tactical insights for battlefield and border security.

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