Sidus Space (SIDU) Stock Seem To Be Correcting Today

Sidus Space, Inc. (NASDAQ: SIDU) shares appear to be undergoing a corrective phase on the US stock charts today. As of the last check in morning session, Sidus stock has experienced a 22.10% decline, falling to $8.96. This follows a notable surge of 163.16% in the preceding session, culminating in SIDU stock closing at $11.50. The upswing was attributed to the vigorous space launch initiatives undertaken by SIDU.

Sidus Space (SIDU) yesterday shared its conclusion of 2023 with significant accomplishments which are setting the stage for a highly anticipated launch in Q1 2024. SIDU said that the year 2023 marked a pivotal period it, characterized by the achievement of momentous milestones.

This included preparations for the launch of LizzieSat and advancements in satellite data technology. Sidus continued to expand its services, secure new clientele, enhance technological capabilities, and successfully complete the requisite testing for the SpaceX Transporter-10 launch.

In anticipation of its upcoming launch, SIDU is committed to providing distinctive and unparalleled solutions, testing cutting-edge space technologies, and aligning its services with the evolving demands of the dynamic space economy. To date, SIDU has successfully conducted the necessary environmental testing of LizzieSat, paving the way for its impending launch as part of SpaceX’s Transporter-10 mission scheduled for March.

Additionally, it has seamlessly integrated testing of command-and-control systems, establishing connectivity between the Sidus Mission Control Center (MCC) in Florida, KSAT Earth Stations globally, and LizzieSat’s onboard radios and command and control systems.

Throughout the year, SIDU has garnered multiple new contracts, partnerships, and Memoranda of Understanding (MOUs), catering to the requirements of low-Earth orbit customers such as LuLav, NASA Astra, CACI, Maris-Tech, SkyServe, Parsons, and HEO (USA).

Sidus has also expanded its mission-critical hardware manufacturing endeavors through contracts supporting the US Navy Propulsion Program, Airbus OneWeb Satellites, and NASA’s Mobile Launcher 2 program.