Sidus Space Inc. (NASDAQ: SIDU) is a small satellite company that is fighting an uphill battle to establish itself in this dynamic, and highly competitive space. Recently, the company has been seeing a surging gains in its price, aftermarket bulls rush this stock with its recent game-changing developments.

Recent Achievements Spark New Confidence

Market pessimism surrounding SIDU stock finally seems to break off after several achievements made in recent months. The most recent was its signing of a deal with the data company, TerraStream, in which Sidus will be expanding its data coverage under a white-label arrangement to generate revenue. TerraStream would be able to deliver a range of synergistic benefits to the company, which could ensure a more sustainable business model moving forward. With these recent developments, there is a clear perception in the market that SIDU’s immediate financial concerns are overshadowed by the longer-term ambitions of the company which can see realization.

Earlier SIDU Price Plunges With Offering

The rapid pre-market gain on the stock price for Sidus Space Inc. (SIDU) comes at a much-needed venture. Earlier last month, SIDU experienced a hard plunge in price, as it initiated a securities offering to raise financing. Shareholders faced immediate concern when the company’s stock, which at the moment was trading at above $1.10 at the time, saw an offering for $0.30 a share during the bid. The valuation set for the offering raised alarm bells, and pointed to the severe overvaluation inherent to Sidus Space, triggering a mass sell-off. As a result, SIDU shed about 60% of its price in a matter of days and is now trading much closer to the $0.30 price arranged for the financing bid. The company received gross proceeds of $4.5 million, following the offering.

Conclusion

Despite SIDU facing a whole range of pressing concerns, recent achievements clear trigger fresh optimism across the market. Management may be aiming for a radical restructure, moving ahead.