Eutelsat's stock surged 500% due to defense spending

Eutelsat, a European satellite telecommunications company, saw its stock price surge over 500% from February 28 to March 5, rising from $0.35 to $2.21 per share. The stock remains up more than 300% from late February. The increase is linked to European nations planning to boost defense spending in response to U.S. military aid concerns for Ukraine. Eutelsat has positioned its OneWeb satellites as an alternative to SpaceX's Starlink services, which are vital for Ukraine's defense. European countries are discussing a potential $841 billion increase in defense spending under the "REARM Europe" program. A small portion of this funding could significantly enhance Eutelsat's revenue, which is currently $1.4 billion annually.