Why BlackSky Stock Popped 11% on Tuesday

BlackSky's new contract is a big deal. Just maybe not as big a deal as you thought at first.BlackSky Technology (BKSY 7.94%) shares soared 11.2% through 10:55 a.m. ET Tuesday after the company announced it has just signed a "strategic international defense sector customer" (yet to be identified) to a $100 million spy satellite contract.BlackSky did mention that its customer is "a long-term strategic partner," so this contract appears to be an extension or an expansion of an existing relationship.BlackSky's ...