Why These Defense Stocks Are Gaining This Week

1. Satellogic Inc. (NASDAQ:SATL)

Weekly Gains: 45.52%

Satellogic Inc. (NASDAQ:SATL) is a vertically integrated geospatial analytics company that delivers real-time insights for consumers, governments, and industries worldwide.

The stock has surged by over 250% in the last 6 months on the back of notable contract awards, which include a multi-year agreement with Brazil’s Air Force, signed in February, to provide low-latency satellite imagery for security operations within the country’s territory.

Satellogic Inc. (NASDAQ:SATL)’s share price dipped nearly 14% toward the end of February but has started picking up again, despite the company not making any headlines during the period. There is not much to suggest what caused the recent surge, but it may have been caused by the general upward trend in space stocks following a successful moon landing by a private US firm earlier this month.

Overall, Satellogic Inc. (NASDAQ:SATL) ranks first among the defense stocks that are gaining this week. While we acknowledge the potential of defense companies, our conviction lies in the belief that 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 SATL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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