Viasat Inc (VSAT) is trading 42% higher at $42.89 today. So far the Information Technology sector has been having a mildly bullish day, and the share price of the company is leaping past it's peers. The market is undergoing a significant macro move (2.04%) which could be a factor in the stock's movement.
-L3Harris is close to buying Viasat's military communications unit
-The deal is worth nearly $2 billion
Viasat Inc has been trading between a 52-week high of $68.76 and a 52-week low of $25.38. The stock has a market cap of $3.24 Billion.
Viasat is a global communications company that believes everyone and everything in the world can be connected. For more than 30 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people's lives anywhere they are-on the ground, in the air or at sea.
L3Harris Close to Buying Viasat''s Military-Communications Unit for Nearly $2 Billion - DJ
L3Harris (NYSE:LHX) Could Buy Link 16 Military Communications for $2B
L3Harris near deal to buy part of Viasat''s government systems unit - WSJ (NYSE:LHX)
Seeking Alpha 10-02-22
Defense Contractor L3Harris Near Deal to Buy Part of Viasat''s Government-Systems Unit, Sources Say
The Wall Street Journal 10-02-22
Mobile Satellite Services (MSS) Market to Reach US$ 8.05 Mn by 2027, TMR Study
As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™: