SEALSQ Corp's (NASDAQ: LAES) stock experienced a significant 12.31% plunge in the after-hours trading session on Tuesday, following the company's announcement of plans to launch six new generation satellites in 2025 in collaboration with its subsidiary, WISeSat AG.
The planned satellite constellation, featuring advanced post-quantum cryptography and secure communication technologies, aims to provide a secure and scalable platform for machine-to-machine communication across various industries, including logistics, precision agriculture, and critical infrastructure.
Despite the ambitious initiative positioning SEALSQ and WISeSat at the forefront of satellite-based IoT solutions, the market reacted negatively to the news. Potential concerns from investors could include the high costs associated with launching multiple satellites, as well as uncertainties surrounding the successful implementation and adoption of the satellite-based services.
Comments