Why These Defense Stocks Are Declining This Week

7. Satellogic Inc. (NASDAQ:SATL)

Weekly Decline: -13.92%

Satellogic Inc. (NASDAQ:SATL) is a vertically integrated geospatial analytics company that delivers real-time insights for consumers, governments, and industries worldwide. The stock has had a stellar run over the last six months, with its share price surging by 209%, at the back of notable contract awards.

In September last year, Satellogic Inc. (NASDAQ:SATL) was selected as one of the eight recipients of NASA’s Commercial SmallSat Data Acquisition Program On-Ramp1 Multiple Award contract, under which the company will provide NASA with high-resolution multispectral imagery until November 2028.

On February 6, Satellogic Inc. (NASDAQ:SATL) and Telespazio Brasil signed a multi-year agreement with Brazil’s Air Force to provide low-latency satellite imagery for security operations within the country’s territory. The company’s shares rose 11% that day and made further gains over the next two days that followed.

Satellogic Inc. (NASDAQ:SATL)’s share price has now gradually dropped and returned to the levels it was trading on before the deal. The near 14% dip over the last week is likely to be a result of market correction, amid perception of the stock being overvalued.