Satellite Firm Viasat Stock Falls After ‘Unexpected’ Deployment Event
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Viasat Inc. slumped a record 28% Thursday after announcing an unexpected event that threatened the performance of a key communication satellite.
The impacted satellite, the ViaSat-3 Americas, was launched April 30 on SpaceX’s Falcon Heavy rocket and is part of the company’s plans to bolster its North American broadband business. Viasat is working to resolve the problem and there has been no impact to coverage or disruption to customers, according to a statement. The company did not respond to Bloomberg’s request for additional comment.