What Motivated Mynaric (MYNA) Stock To Climb 11%?

Mynaric AG (NASD: MYNA), a globally recognized provider of laser communication terminals, recently made a significant announcement that has had a positive impact on its shares. According to the latest stock market update, MYNA shares have increased by 11.03% and are now trading at $4.83 per share. This boost in the stock price can be attributed to the company’s successful delivery of multiple laser communication terminals, which highlights its dominant position in the market and potential for continued growth.

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To whom did MYNA deliver the terminals?

Telesat Government Solutions (GS) received CONDOR Mk2 optical communication terminals from Mynaric (MYNA). These are flight-ready terminals and a significant milestone in the product’s space flight heritage. They will be used with the Blackjack Track B program from Defense Advanced Research Projects Agency (DARPA) and attached to Croupier satellites for launch into space.

Mynaric’s journey to becoming a prominent space heritage company is about to take a major step forward. In the upcoming months, the company is set to deliver flight-ready space products, marking a significant milestone in its mission. The team at Mynaric, along with close collaboration with Telesat GS, has been working tirelessly to develop and test its products, with a focus on ensuring they are ready for the inaugural customer mission of its CONDOR product.

Satellite programs have come a long way from being just an idea to becoming a reality. MYNA is now focusing on providing its customers with cost-effective and mass-produced optical communication terminals. The company has set a goal to significantly increase the production of its laser communication products in the current year and to provide flight-ready units to both current and potential customers by the close of the year.

How did MYNA accomplish this?

Mynaric (MYNA was chosen by Telesat GS to supply optical communication terminals for their Blackjack satellite program in the last quarter of 2020. The company’s commitment to excellence and delivering top-quality products was further demonstrated when MYNA successfully delivered HAWK units to an energy customer in the last quarter of 2022, shortly after delivering flight-ready CONDOR Mk2 units to Telesat GS. These milestones are a testament to MYNA’s expertise and ability to meet the demands of the growing satellite communication industry.