Verizon Surges 11% YTD After Collaborating With NASA for Total Solar Eclipse Broadcast

By John Lopez

Apr 08, 2024 04:14 PM EDT

Verizon Communications Inc. has soared an impressive 11% year-to-date, igniting investor optimism with its latest partnership alongside NASA. 

Benzinga reports that the telecommunications giant's stock witnessed a pre-market surge following its partnership announcement with NASA for a live broadcast of the upcoming total solar eclipse.

Verizon Business Partners with NASA for Live Broadcast of Solar Eclipse

Verizon Business joined forces with NASA to produce a seamless network solution, ensuring a live transmission of the 'Great American Eclipse' on April 8. Leveraging its expertise, Verizon swiftly provisioned a 1GB E-Line service from the Great Lakes Science Center to the John Glenn Space Center in under 30 days.

The moon eclipses the sun during a total solar eclipse across North America, in Stowe, Vermont, on April 8, 2024. This year's path of totality is 115 miles (185 kilometers) wide and home to nearly 32 million Americans, with an additional 150 million living less than 200 miles from the strip. The next total solar eclipse that can be seen from a large part of North America won't come around until 2044. (Photo by Joseph Prezioso / AFP)
(Photo : Photo by JOSEPH PREZIOSO/AFP via Getty Images)

"This project is yet another example of the ability of our public sector team to deliver the types of solutions and technology that have helped make us a trusted partner for federal agencies like NASA," remarked Michael Adams, associate vice president for federal civilian services at Verizon.

The collaboration highlights Verizon's pivotal role in facilitating critical infrastructure, extending its footprint beyond conventional telecommunications services. 

Recent endeavors include a $15 million task order with the U.S. Navy's Morale, Welfare, and Recreation agency and a significant expansion of its partnership with the U.S. Department of Veterans Affairs, emphasizing its commitment to supporting essential services during emergencies.

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Verizon Stock's Recent Bullish Performance

Investors are riding high on the coattails of this strategic collaboration, as evidenced by Verizon's bullish performance in the stock market. Technical analysis reveals a moderately bullish trend, with indicators pointing towards sustained growth. However, caution is advised as the Relative Strength Index (RSI) nears overbought territory, warranting careful monitoring in the coming days.

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