On the 16th, Sphere is up more than 14% intraday. The rally appears to be driven by news that it signed a supply contract with a U.S. global aerospace launch company, boosting investor sentiment.
As of 9:42 a.m. that day, Sphere was trading on the KOSDAQ market at 13,840 won, up 1,800 won (14.95%) from the previous trading day. Early in the session, it also traded at 14,450 won, up 2,410 won (20.01%) from the previous trading day.
Earlier, Sphere disclosed on the 11th that it signed a supply contract worth about 6.9 billion won for special alloys with a U.S. global aerospace launch company. The amount is equivalent to 271.53% of the previous year's sales (2.5 billion won).
Since the disclosure, Sphere's share price has risen for four consecutive trading days. On the 10th, the stock was 8,100 won, and by the 15th it rose to 12,040 won, jumping 48.64%.
News that SpaceX, the space company led by Tesla CEO Elon Musk, is pushing for an initial public offering (IPO) with next year as the target is also seen as increasing investor interest in the aerospace industry.