Sidus Space (SIDU) stock soared for the second day on news that it has been chosen to be part of a Raytheon-led team that has been awarded a NASA contract worth up to $3.5B over 12 years.
Shares of Sidus, a maker of small satellites and space-related hardware, opened at $7.60, jumping to a high of $9.22 in mid-morning. The stock recently changed hands at $7.10, up 52%, at approximately 12:10 p.m. ET.
On Wednesday, Sidus announced that it had been chosen to be a subcontractor for Raytheon’s Collins Aerospace team, which was recently awarded the multi-year contract. The project will focus on developing next-generation spacesuits and equipment for moon and space walks.
Shares of Sidus rocketed on the news Wednesday, shooting up 225% to close at $4.68.
Sidus went public on Dec. 14 through an initial public offering that raised $15M.