---
title: "Cooperating with SpaceX! WiSeKey surged nearly 50%, triggering a circuit breaker"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/222457864.md"
description: "Following a significant increase of 139% in stock price last Friday, Swiss technology company WiSeKey International surged nearly 50% after the opening of the US stock market today"
datetime: "2024-12-16T14:45:24.000Z"
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  - [zh-CN](https://longbridge.com/zh-CN/news/222457864.md)
  - [en](https://longbridge.com/en/news/222457864.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/222457864.md)
---

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# Cooperating with SpaceX! WiSeKey surged nearly 50%, triggering a circuit breaker

According to a report by Hong Kong's Wind Information, on December 16, following a significant 139% increase in stock price last Friday, Swiss technology company WiSeKey International saw its stock surge nearly 50% after the U.S. market opened today, triggering a trading halt.

WiSeKey is a Swiss cybersecurity company focused on providing comprehensive security solutions globally. With over 20 years of experience in the digital security market, the company integrates its secure semiconductors, cybersecurity software, and globally recognized Root of Trust (RoT) into leading products and services to protect users, devices, data, and transactions in the interconnected world.

From the company's stock performance perspective, after its listing on December 27, 2019, the stock price once rose above $76. For this year, as of December 11, the stock price spent most of the time below $3. However, after the trading days on December 12 and December 13, the cumulative increase in stock price reached 226.67%.

### Why did the stock price surge over 200% in the short term?

On the news front, WiSeKey announced last Friday (December 13) that its subsidiary would collaborate with Elon Musk's SpaceX to launch a satellite.

WiSeKey stated that its subsidiary WISeSat.Space's satellite is scheduled to launch on January 14 from Vandenberg Space Force Base in California. The satellite will carry technology to protect the communications of complex quantum computers, which can solve problems beyond the capabilities of traditional computers. WiSeKey founder and CEO Carlos Moreira stated that this launch represents a significant step forward for the company in its mission to ensure the security of IoT communications and prepare for a post-quantum future.

It is reported that since space nodes are more difficult to attack than nodes on Earth, this will significantly enhance cybersecurity and ensure the safety of sensitive information. Additionally, by increasing space nodes, the network will become more decentralized and resilient, thereby reducing the risk of failures.

### Stock price pressure since the beginning of the year

Why did the company's stock price remain below $3 for most of the time before December 11 this year? One major reason is the significant decline in the company's revenue. According to the latest data, in the first half of 2024, the company's revenue dropped from $15.1 million in the same period of 2023 to $5.2 million, a decrease of 66%. The sharp decline in revenue directly impacted the company's market performance and investor confidence. WiSeKey conducts semiconductor sales through its subsidiary SEALSQ Corp, but in the first half of 2024, the semiconductor market experienced the anticipated downturn, leading to a significant drop in SEALSQ Corp's sales.

Moreover, competition in the cybersecurity and Internet of Things (IoT) sectors is becoming increasingly fierce. Although the company made some progress in several strategic projects in the first half of the year, the actual pace of these projects fell short of expectations. For example, while WiSeKey's WISeSat satellite constellation project and SEALCOIN project have broad prospects, delays in satellite launches and slow testing progress for SEALCOIN have lowered market expectations for these projectsAt the same time, the slow progress of these projects has also affected investor confidence

### Related Stocks

- [WISeKey International Holding AG (WKEY.US)](https://longbridge.com/en/quote/WKEY.US.md)

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