Here’s Why BlackSky Technology Inc. (BKSY) Is Skyrocketing

We recently compiled a list of the Why These 24 Stocks Are Skyrocketing. In this article, we are going to take a look at where BlackSky Technology Inc. (NYSE:BKSY) stands against the other stocks.

One of the strongest stock market anomalies is the momentum effect, which is the tendency of recent past winners to outperform the recent past losers. That’s why we decided to take a look at some of the recent past winners in this article. These 24 companies, predominantly involved in the quantum computing, biotechnology, and technology sectors, have performed significantly well in the final quarter of 2024, registering spectacular returns over the 3 months.

That said, let’s take a look at the top 24 stocks that have skyrocketed and pose a solid growth opportunity in the coming year. We will also explore how well the stocks have performed throughout the year and what they have in store for 2025.

To come up with 24 names, we considered only the stocks that have at least $2 billion in market capitalization and have registered commendable returns in the fourth quarter of 2024.

A satellite in mid-flight with its solar panels capturing the sun’s rays.

BlackSky Technology Inc. (NYSE:BKSY)

Q4 Returns as of December 31, 2024: 128%

BKSY has remained quite consistent, closing Q4 2024 with a stock price of $10.79, registering a 128% jump from its $4.74 close on September 30, 2024.

The intelligence company that delivers real-time imagery has been garnering attention for its software and analytical services. Recently, the company won a $290 million contract to monitor global economic activity and assess military capabilities, underscoring its growing importance in the industry.

In addition to that, BlackSky Technology Inc. (NYSE:BKSY) is committed to growth, evident from its expanding product line and investments in Gen-3 satellites.

Overall BKSY ranks 21st on our list of the stocks that are skyrocketing right now. While we acknowledge the potential of BKSY as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BKSY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. This article is originally published at Insider Monkey.