A European Starlink rival's shares skyrocketed 390% in a week — here's why

In this article ETL-FR Follow your favorite stocks CREATE FREE ACCOUNT A satellite dish in a ground network of satellites at Eutelsat's Madeira office. Photographer: /Bloomberg via Getty Images Zed Jameson | Bloomberg via Getty Images Shares of French satellite operator Eutelsat skyrocketed almost 390% last week — and a potential change of tack in European defense has been helping the rally. The firm's stock price saw wildly volatile moves last week, up by as much as 77% on Tuesday and by another 120% on Wednesday. From its closing price on Feb. 28 to last Friday's close, shares have risen an eyewatering 387%. Eutelsat's shares continued to climb on Monday, jumping more than 22% as of 1:00 p.m. local time in Paris. What's behind Eutelsat's huge share price gains? CNBC runs through all you need to know. What is Eutelsat? Eutelsat is a French company that produces satellites for data connectivity. The business sends its satellites to space using rockets from the likes of Elon Musk's ... Read full article.