What's Going On With WISeKey Shares Friday?

WISeKey International Holding Ltd WKEY shares are moving higher on Friday following the company’s confirmation of its subsidiary WISeSat.Space’s satellite launch with SpaceX. Here’s what you need to know.

What To Know: The goal of the launch is to deploy post-quantum-ready next-generation WISeSat satellites. This will showcase the combination of WISeKey’s Root of Trust and SEALSQ’s Post-Quantum Chips, providing security against emerging quantum threats.

Carlos Moreira, Founder and CEO of WISeKey, said, “This launch represents a leap forward in our mission to secure IoT communications and prepare for a post-quantum future. By integrating SEALSQ’s Post-Quantum Chips with WISeKey’s trusted Root of Trust, we are ensuring that WISeSat remains at the forefront of satellite cybersecurity.”

The company’s plans for the future include expanding the WISeSat network by increasing the number of satellites for greater bandwidth and redundancy. It also plans to integrate AI-driven analytics for real-time data processing and develop hybrid terrestrial-satellite solutions to ensure seamless, secure IoT connectivity.

Ultimately, the WISeSat network is focused on providing secure, real-time connectivity for IoT devices globally, supporting WISeKey’s efforts to improve satellite communications and cybersecurity infrastructure.

The launch will take place at the Vandenberg Space Force Base in California and is scheduled for Jan. 14, 2025.

The company’s stock is trading with higher-than-usual volume, reaching 25.98 million shares. This compares to an average session volume of 201.19 thousand shares over the past 100 days.

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WKEY Price Action: At the time of writing, WISeKey stock is moving 87.5% higher at $6.14, according to data from Benzinga Pro.

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