BlackSky Stock Jumps As Space Sector Heats Up: What's Happening?

BlackSky Technology Inc (NYSE:BKSY) shares are ripping higher on Thursday as space‑focused stocks surge across the market. Investors are piling into the sector after reports that Amazon.com (NASDAQ:AMZN) is exploring a potential acquisition of Globalstar Inc (NASDAQ:GSAT), while enthusiasm continues to build around SpaceX's long‑awaited IPO and NASA's successful Artemis II mission. BlackSky Technology shares are climbing with conviction. What’s driving BKSY stock higher? Amazon–Globalstar Deal Speculation Lifts the Sector Globalstar jumped early Thursday after reports surfaced that Amazon is in talks to buy the satellite communications company. Such a move would give Amazon a major boost as it expands its low‑Earth‑orbit internet ambitions and looks to compete more directly with SpaceX. Amazon is working to deploy roughly 1,600 satellites by mid‑2026, and Globalstar already has launch agreements in place with SpaceX. The news helped lift space-related stocks across the board on Thursday. SpaceX's Massive IPO Plans, Artemis II Buzz SpaceX has also reportedly filed a confidential draft registration with the SEC, setting the stage for what could become the largest IPO ever. Bloomberg reports the company is targeting a June debut with a valuation north of $1.75 trillion, easily surpassing Saudi Aramco's record‑setting offering in 2019. Major Wall Street firms, including Bank of America, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Citigroup, are said to be involved in the deal. NASA added to the sector's momentum with the successful launch of Artemis II from Kennedy Space Center at 6:35 p.m. ET on Wednesday. The mission sent four astronauts on a 10‑day journey around the moon. It's the first crewed mission to head toward the moon since Apollo 17 in 1972 and the first to ever launch aboard NASA's Space Launch System rocket. The crew is expected to travel farther from Earth than any humans before, generating critical data for the next phase of the program. Artemis II is designed as a major test flight for future lunar missions and for NASA's broader plan to establish a long‑term human presence on the moon. BSKY Shares Surge Thursday BKSY Price Action: BlackSky shares were up 8.91% at $30.08 at the time of publication on Thursday, according to Benzinga Pro. Image: Miha Creative/Shutterstock