Satellogic Inc. (SATL) shares are experiencing a notable uptick in pre-market trading following the announcement of a strategic partnership with Maxar Intelligence. On December 17, 2024, the two companies unveiled an agreement aimed at enhancing near real-time monitoring and change detection capabilities for U.S. national security missions and international partners. This collaboration grants Maxar exclusive rights to direct task Satellogic's high-revisit satellite constellation, integrating Satellogic's cost-efficient satellite imagery with Maxar's high-resolution imaging and AI-driven analysis tools. The partnership is expected to provide a versatile solution for monitoring multiple locations and detecting critical changes, offering a strategic advantage to U.S. and international government customers.
Additionally, the latest data indicates a significant increase in the borrow rate for Satellogic, with a 550.39% rise, which may also be contributing to the stock's upward movement. This increase in borrow rate suggests heightened interest and activity in the stock, potentially driven by the recent partnership announcement and its implications for Satellogic's business prospects.
Satellogic's stock is currently priced at $4.32, reflecting a 7.46% increase from the previous close of $4.02.