Terran Orbital stock plunges day after rallying on Jefferies buy rating

Apr. 21, 2022 2:51 PM ETLLAPBy: Val Kennedy, SA News Editor

Global Communication Network (World Map Credits To Nasa)

imaginima/iStock via Getty Images

Satellite developer Terran Orbital (LLAP) shares plunged 20% Thursday, the day after they rallied on news that Jefferies had initiated coverage of the stock with a buy rating.

Shares of LLAP opened at $5.48 and hit a high of $5.66 in early trading before sliding to $4.66 in mid-afternoon. The stock recently changed hands at $4.70, down 20%, at approximately 2:35 p.m. ET.

LLAP shares gained 17% on Wednesday after Jefferies initiated coverage with a buy rating and price target of $10.

The stock also closed 28% higher on Tuesday, reversing a downward slide that began shortly after its merger with SPAC Tailwind Two on March 28.

LLAP and Tailwind Two announced in October that they planned to merge through a deal that valued the combined company at $1.58B.

Recommended For You


To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.