Market Outlook: SpaceX IPO boosts interest in satellite sector

Bloomberg

Mar 20

The expected SpaceX IPO is drawing global investor attention to the fast-growing space economy, but it may also shine a light on smaller, overlooked players in the sector.BNN Bloomberg spoke with ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2620763022"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2620763022\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2620763022?lang=en_US&edition=fundamental","thumbnail":"https://www.bnnbloomberg.ca/resizer/v2/VAENKXKNBJACLHREAXPG3VAUAY.jpg?smart=true&auth=09803c134031863769c46aa552eeb4c70fc4df87f829ef3c51c67617562e52d6&width=800&height=450","is_english":true,"pubTime":"2026-03-20 03:32","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2620763022","market":"us","top_or_hot":-1,"title":"Market Outlook: SpaceX IPO boosts interest in satellite sector","media":"Bloomberg","content":"<div>\n<p>The expected SpaceX IPO is drawing global investor attention to the fast-growing space economy, but it may also shine a light on smaller, overlooked players in the sector.BNN Bloomberg spoke with ...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/investing/market-outlook/2026/03/19/market-outlook-spacex-ipo-boosts-interest-in-satellite-sector/\">Source Link</a>\n\n</div>\n","source":"bnn_bloomberg_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Market Outlook: SpaceX IPO boosts interest in satellite sector</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMarket Outlook: SpaceX IPO boosts interest in satellite sector\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-03-20 03:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bnnbloomberg.ca/investing/market-outlook/2026/03/19/market-outlook-spacex-ipo-boosts-interest-in-satellite-sector/><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The expected SpaceX IPO is drawing global investor attention to the fast-growing space economy, but it may also shine a light on smaller, overlooked players in the sector.BNN Bloomberg spoke with ...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/investing/market-outlook/2026/03/19/market-outlook-spacex-ipo-boosts-interest-in-satellite-sector/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XOVR","symbol_name":"ERShares Private-Public Crossover ETF","start_time":0,"source_url":"https://www.bnnbloomberg.ca/investing/market-outlook/2026/03/19/market-outlook-spacex-ipo-boosts-interest-in-satellite-sector/","article_id":"2620763022","we_media_id":null,"thumbnails":["https://www.bnnbloomberg.ca/resizer/v2/VAENKXKNBJACLHREAXPG3VAUAY.jpg?smart=true&auth=09803c134031863769c46aa552eeb4c70fc4df87f829ef3c51c67617562e52d6&width=800&height=450"],"rights":{"source":"bnn_bloomberg_highlight","url":"https://www.bnnbloomberg.ca/investing/market-outlook/2026/03/19/market-outlook-spacex-ipo-boosts-interest-in-satellite-sector/","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2620763022","pubTimestamp":1773948720,"columns":[],"sourceInfo":{"source_id":"bnn_bloomberg_highlight","name":"Bloomberg"},"weMediaInfo":null,"summary":"SpaceX IPO could boost interest in Telesat as analysts point to valuation gaps, LEO satellites and rising global demand.","collect":0,"end_time":0,"defaultTopTitle":"bnnbloomberg.ca","property":[],"viewcount":null,"language":"en","relate_stocks":{"XOVR":"ERShares Private-Public Crossover ETF","DXYZ":"Destiny Tech100 Inc"},"translate_title":"市场展望：SpaceX IPO提振卫星行业兴趣","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DXYZ":1.5,"XOVR":1.5},"content_text":"The expected SpaceX IPO is drawing global investor attention to the fast-growing space economy, but it may also shine a light on smaller, overlooked players in the sector.BNN Bloomberg spoke with David McFadgen, managing director, institutional equity research at ATB Cormark Capital Markets, about why he sees significant upside in Telesat as valuation gaps, global demand and sector catalysts build.Key TakeawaysThe SpaceX IPO is expected to attract investor attention to the broader space sector, potentially benefiting smaller satellite companies.Low Earth orbit satellite networks are emerging as a key growth driver due to faster speeds and expanding global demand.Geopolitical shifts are increasing demand for non-U.S. satellite providers and sovereign communications infrastructure.Satellite companies are targeting different markets, with enterprise and government demand offering distinct growth opportunities.Debt restructuring clarity remains a key catalyst, with resolution expected to improve investor confidence.David McFadgen, managing director and institutional equity research at ATB Cormark Capital Markets David McFadgen, managing director and institutional equity research at ATB Cormark Capital Markets Read the full transcript below:LINDSAY: While the upcoming SpaceX IPO has been making headlines over the past few months, our next guest says there’s a Canadian satellite company that hasn’t been getting much attention but has significant opportunity ahead. He says he’s been covering companies for 20 years and has never seen this much upside. Here with his perspective on Telesat is David McFadgen, managing director, institutional equity research at ATB Cormark Capital Markets. Great to have you with us.DAVID: Thanks for having me.LINDSAY: Looking forward to hearing your thoughts on Telesat. How does its valuation compare to a company like SpaceX?DAVID: SpaceX is rumoured to be valued — we don’t know exactly because it hasn’t started marketing the deal yet — but what’s been reported is more than $1.5 trillion US. That would be well over 100 times revenue. Telesat wouldn’t be anywhere close to that, which highlights a significant valuation gap. As investors focus on the SpaceX IPO, they’ll likely look for similar companies, and Telesat could attract attention because of that discrepancy.LINDSAY: You say you’ve never seen a company with this much upside. What stands out to you?DAVID: If you look at SpaceX as a guide, it went from zero to about $15 billion US in revenue in roughly five years, driven by Starlink and its launch business. It reached more than $10 billion in revenue faster than companies like Amazon, Google and Facebook. The market is global, and demand for space-based communication is growing rapidly. Starlink has validated the low Earth orbit model, which is taking share from geostationary satellites. Geopolitics is also a factor — some countries want alternatives to U.S.-based providers. Once Telesat is operational, there will effectively be three players offering broadband from space: SpaceX, Amazon and Telesat, with Telesat as the only non-U.S. option.LINDSAY: And that’s referring specifically to low Earth orbit satellites?DAVID: Exactly. There will be three LEO constellations offering broadband once Telesat is operational.LINDSAY: We saw Prime Minister Mark Carney highlight Telesat’s Lightspeed services during a trip to Australia. Do you see opportunities internationally?DAVID: Absolutely. Most of Telesat’s market will likely be outside Canada. It could secure defence-related business at home, but globally there’s strong demand. For example, countries like Taiwan have interest in satellite internet as a backup to undersea cables. Telesat could be attractive because it’s not a U.S. provider. Deals like that could be meaningful for growth.LINDSAY: Telesat does carry a significant amount of debt. Can you explain the situation and why you’re not overly concerned?DAVID: It’s a complex structure. There’s debt tied to the geostationary satellite business, and it appears to have limited recourse beyond those assets. That debt has traded at distressed levels and is now higher. The company is negotiating with bondholders as maturities approach. We expect a resolution, and once there’s clarity, it should make the stock more investable for many portfolio managers.LINDSAY: How does competition with SpaceX and Amazon really play out?DAVID: They’re targeting different markets. Starlink and Amazon are more consumer-focused, while Telesat is business-to-business — serving defence, government, aviation, maritime and telecom clients. Telesat is also aiming to offer enterprise-grade service with service level agreements and potentially faster speeds. There’s room in the market for all three players.LINDSAY: You mentioned the upside potential. How significant could it be?DAVID: If Telesat meets its own forecasts, the stock could be multiples of where it is today.LINDSAY: Are you seeing growing global interest in its services?DAVID: Yes. The company indicated it expects to materially grow its backlog this year, which suggests strong demand even before the network is fully operational.LINDSAY: We’ll leave it there. David McFadgen, managing director, institutional equity research at ATB Cormark Capital Markets. Thanks for your time.DAVID: Thank you.---This BNN Bloomberg summary and transcript of the March 19, 2026 interview with David McFadgen are published with the assistance of AI. Original research, interview questions and added context was created by BNN Bloomberg journalists. An editor also reviewed this material before it was published to ensure its accuracy and adherence with BNN Bloomberg editorial policies and standards.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}