WISeSat.Space Stock Reverses After 100.59% One-Day Gain

WISeSat.Space Holdings Corp. (Nasdaq: SAIQ) shares more than doubled on Oct. 20 as the company announced a satellite carrying cybersecurity technology had been deployed, then fell by double digits in the next session.

SAIQ closed at $6.84 on Oct. 20, up 100.59% from its Oct. 19 close of $3.41. Shares traded between $4.52 and $6.92 that day. The stock had also gained 260.54% on Oct. 5 before falling 22.64% the following day.

At 8 a.m. ET (12:00 UTC) on Oct. 20, WISeSat.Space announced the successful launch and deployment of FOSSASAT-2E27 on SpaceX’s Bandwagon-5 mission. The 6U satellite, developed and operated by FOSSA Systems, carries VaultIC secure-element technology from SEALSQ Corp.

The deployment is part of an in-orbit technology-testing effort. WISeSat.Space’s technical collaboration with FOSSA covers up to six selected satellite missions. Testing of SEALSQ’s next-generation QS7001 post-quantum secure element depends on technical readiness and integration.

Julián Fernández, FOSSA Systems CEO and co-founder, described the expanded effort as a move toward “more systematic in-orbit testing and validation.” The deployment announcement included no customer deal or related revenue figure.