Why Iridium (IRDM) Stock Is Up Today
Update: 2025-10-31
Description
Iridium's stock surged over four percent on October 31st due to the launch of their new GPS protection chip and a significant stock purchase by director Robert Niehaus. The PNT ASIC chip, designed to protect against GPS interference, is expected to tap into a potentially lucrative market worth over three billion dollars by 2032. Despite positive news, Cathie Wood's ARK ETF continued selling off Iridium shares, reflecting differing views among investors. Iridium's stock has been volatile, with over a dozen significant swings in the past year, and faces tougher competition from heavyweights like Amazon's Project Kuiper and Starlink. Global politics, such as trade tensions with China, also pose risks. Despite recent gains, Iridium's stock is still down over a third since January and more than forty percent below its February high.
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