When Cartel Land launched in 2019, the company’s stock fell to under $10 per share. Now, it’s trading for around $5 per share:
The startup that built the world’s first lander has doubled in value since it launched, according to new research.
CartelLand, a startup founded in 2019 and spun off from SpaceX in 2020, now trades for around five times its former price, according the company.
The company has been growing at a compound annual growth rate (CAGR) of 20% since the beginning of 2019.
The data was gathered by Bloomberg and shows Cartel’s stock rose by 8.5% in the first six months of 2020 alone.
The most recent quarterly numbers for the company were also boosted by a surge in interest in the lander, which launched in 2018 and is currently undergoing testing on a moonbase.
The startup’s founders are still looking for investors.
“We’re in a place where we feel like we can do a lot of good things with it,” said Mark Boulton, co-founder of Cartel.
“It’s very interesting to me that a company that has this technology has so much upside.”
A year ago, Cartel landed its first landers on the moon.
The landers would have explored the moon for a decade.
The technology is already being used to investigate whether life on Earth exists, and to search for new worlds.
“I feel really excited about this technology and this future that we’re going to have,” said Boulthton.
Boultons wife, Emma, works in the space industry, and she said the technology was crucial to her husband’s success.
“He’s been very open and willing to talk about his vision of the future,” said Emma Boultons husband, Mark.
“The sky is the limit, and we’ve got a lot more to do.”
While the company has not released details of how much money it raised during the time it’s been operating, the first landings are now well underway.
Cartels investors say the money will allow the company to continue to expand.
“A lot of the landers are being launched into the sky, so that’s a big boost for our business,” said co-founders and CEO Marc Blanchard.
“If we can accelerate that, I think we can really deliver.”