Private investment in space firms shows 'signs of stabilization' in Q2 after steady decline | Canada News Media
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Private investment in space firms shows ‘signs of stabilization’ in Q2 after steady decline

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1 year ago

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Senior satellite technician Chris Summers completes the final pre-flight checks on satellites Kepler-16 and Kepler-17.
Kepler Communications

Private investment in space companies, especially from venture capital, showed “signs of stabilization” in the second quarter after steady declines over the past year, according to a report Monday by New York-based Space Capital.

Investment in space companies had dropped steadily since its peak in 2021, as companies felt the macroeconomic effects of a tightened funding environment and rising interest rates. Layoffs and cost-cutting arrived at many space companies in recent months, and M&A activity in the sector is expected to heat up as valuations come down.

But Space Capital’s Q2 report pointed to indicators that the space market looks to be near a bottom, highlighting the return of hiring for space jobs to 2020 levels.

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“The reset in the financial markets has brought about healthier market dynamics, enabling disciplined investors to identify opportunities and invest in high quality companies at lower valuations,” Space Capital managing partner Chad Anderson wrote in the report.

Space infrastructure companies brought in $4.9 billion of private investment in the second quarter, including the close of Maxar’s recent go-private sale at a $4.1 billion equity value.

Though the Maxar deal made up the bulk of the Q2 total, Space Capital noted that growth-stage investments are outstripping late-stage, with raises in the former category making up 74% of total equity rounds, “signaling a healthy top-of-funnel” in the sector’s economy.

The quarterly Space Capital report divides investment in the industry into three technology categories: infrastructure, distribution and application. Infrastructure includes what would be commonly considered as space companies, such as firms that build rockets and satellites.

 

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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7 days ago

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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2 weeks ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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