In our continuing mission to find a space stock worth owning, we have found most of the former SPACs to be seriously underwhelming. SpaceX and its ginormous Starlink constellation of leaky satellites now dominate the commercial launch services market and the global internet race, but retail investors are locked out of that opportunity for now. In the past, we even analyzed legacy space companies like Iridium (IRDM), which pioneered some of the first satellite-to-phone technology more than 20 years ago before promptly going bankrupt. The $7.6 billion satellite company that exists today has moved beyond low-data connectivity to being a major provider of IoT services, as well as a global air traffic control system, but still faces intense competition from SpaceX’s Starlink and others.
An Emerging Space Market?
Iridium also figures to play a role in the new generation of satellite-to-smartp
