7 Things to Know About BKSY Stock as BlackSky Starts Trading Today

Today marks the first day of public trading for BlackSky (NYSE:BKSY). A leading technology platform focused on real-time geospatial intelligence and global monitoring, BKSY stock has been a hot special purpose acquisition company (SPAC) option for investors of late.

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Indeed, today’s move may have shareholders thinking otherwise. Today, BKSY stock dropped 3% in afternoon trading following its debut. That’s perhaps not unsurprising, seeing the various moves in recent de-SPAC companies of late. However, this move is notable given the number of eyeballs that are on this stock right now.

BlackSky’s recent reverse merger with Osprey Technology Acquisition Corp. completed yesterday. As a result of this deal, BlackSky received approximately $283 million in capital. Of the $238 million, approximately $180 million was doled out in the form of PIPE (private investment in public equity) financing. These funds are expected to be used to finance the company’s acquisition in its high-growth markets.

Let’s dive into a few things investors may want to know about BlackSky.

What to Know About BKSY Stock

  • BlackSky is a Seattle-based company valued at $1.5 billion in its initial SPAC deal in February.
  • This company’s focus is on providing actionable insights to clientele.
  • Accordingly, the company’s business model has drawn parallels to that of Palantir (NYSE:PLTR).
  • Unsurprisingly, Palantir has announced a committed equity investment in BlackSky.
  • This deal provides for a multi-year subscription deal with Palantir, allowing BlackSky access to the Palantir Foundry enterprise platform.
  • Bulls of BKSY stock note the surging demand for real-time intelligence could make this a top growth stock to consider.
  • BKSY stock opened at $11.80, dropping to $11 per share in afternoon trading.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2021/09/7-things-to-know-about-bksy-stock-as-blacksky-starts-trading-today/.

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