Shares of French Starlink rival surge fivefold

Shares of the French company, a direct competitor to Starlink, unexpectedly surged by 500%, driving its market capitalisation up to $4.02 billion. This spike sparked widespread interest in stock markets and attracted investor attention.

Reasons for the rise: issues with US aid to Ukraine

According to Business Insider, the increase in the company's value became possible after the US suspended its aid to Ukraine on Monday. This decision raised concerns about potential disruptions in critical areas such as US air defence and internet stability on the battlefield, directly affecting the capabilities of the Ukrainian army in the current conflict.

Market reaction to events in Ukraine

Investors began actively seeking alternatives to Starlink, understanding that the cessation of US aid could weaken ties with the current satellite service provider.