Serhiy Beskrestnov, a technology adviser to Ukraine’s president, said Wednesday that SpaceX had overnight capped the speed of Starlink terminals in motion that Ukraine’s forces use through its Starshield military service, without warning. Investors sent Eutelsat, which owns the rival OneWeb network, up 23 per cent that day. A day earlier, Piper Sandler had downgraded AST SpaceMobile, citing SpaceX’s push into satellite-to-phone service. By Friday the Procure Space ETF, a fund that tracks space stocks, was down 6.4 per cent for the week, while Eutelsat, SES and OHB were all sharply higher.
Maritime Launch Services and NorthStar Earth & Space both won conditional approval to list on the Toronto Stock Exchange. Maritime Launch’s shares jumped 17 per cent on Thursday, the day it announced the approval. The SpaceQ Canadian Space Index finished the holiday-shortened week where it began, at 98.70, after falling to 96.70 on Wednesday and recovering above its 100.00 base on Thursday.
The SpaceQ Canadian Space Index is an editorial measure published by SpaceQ for journalistic purposes. It is not an investable index, not a financial benchmark, and nothing in it constitutes investment advice.
The board
| Company | Ticker | Close, Oct. 16 | Week | YTD | 52-week range |
|---|---|---|---|---|---|
| Maritime Launch Services | MAXQ | $0.475 | +17.3% | +69.6% | 65% |
| Magellan Aerospace | MAL | $32.70 | +4.5% | +77.5% | 63% |
| Calian Group | CGY | $83.01 | +3.1% | +51.1% | 81% |
| C-COM Satellite Systems | CMI | $0.85 | +2.4% | +4.9% | 20% |
| MDA Space | MDA | $39.87 | -0.8% | +49.7% | 40% |
| Telesat | TSAT | $63.73 | -2.7% | +61.1% | 59% |
| Baylin Technologies | BYL | $0.20 | -4.8% | -23.1% | 0% |
| Intermap Technologies | IMP | $0.78 | -8.2% | -57.8% | 0% |
| 5N Plus | VNP | $27.18 | -10.2% | +53.4% | 33% |
Maritime Launch jumps on TSX approval
Maritime Launch Services said Thursday the TSX had conditionally approved its shares for listing, and they jumped 17 per cent that day, to 48 cents. That one day accounts for almost all of the company’s gain for the week, the best on the board. The shares trade on Cboe Canada for now, and Maritime Launch has not yet set a date for the move.
Calian Group said Wednesday it had won a five-year contract worth about $47 million to design training scenarios for NATO’s Joint Warfare Centre in Stavanger, Norway, and its shares rose 3.1 per cent for the week. They now sit closer to their 52-week high than any other stock on the board.
Magellan Aerospace rose 4.5 per cent, and its 77.5 per cent gain since January is the best of the nine. C-COM Satellite Systems edged up as well.
CSG becomes MDA’s top shareholder
Czechoslovak Group (CSG), a Prague-based defence and industrial group, disclosed a 9.5 per cent stake in MDA Space in a U.S. securities filing on Wednesday and said it is now MDA’s largest shareholder. The filing shows CSG paid 6.2 per cent more than MDA’s closing price the previous Friday.
MDA’s shares slipped 0.8 per cent over the week. Telesat fell 2.7 per cent and is still up 61.1 per cent this year.
5N Plus leads the decliners
5N Plus fell 10.2 per cent, the steepest drop among the nine, though its shares are still up 53.4 per cent this year. Baylin Technologies lost 4.8 per cent and closed at its lowest level of the past year.
Intermap Technologies set a 52-week closing low of 77 cents on Wednesday and finished the week down 8.2 per cent. It has lost 57.8 per cent of its value since January, the worst showing on the board.
Number of the week: $656 million
What Czechoslovak Group paid for 15.4 million MDA Space shares, by SpaceQ’s calculation from its U.S. filing. The 9.5 per cent stake makes the Czech group MDA’s largest shareholder, bought at 6.2 per cent above MDA’s Oct. 9 close.
NorthStar heads for Toronto
The Toronto Stock Exchange has conditionally approved a listing for NorthStar Earth & Space, filings with Québec’s securities regulator show, under the same NSTR symbol it uses on NYSE American. The company has until Nov. 30 to meet the conditions.
NorthStar’s shares jumped 30 per cent on Wednesday, then gave the gain back over the next two days, ending the week down 11.6 per cent in New York. SpaceQ’s index rules admit only companies with a Canadian listing quoted in Canadian dollars, and that listing must be at least 90 days old, so a Toronto listing would put NorthStar in line to join.
Rocket Lab leads a U.S. slide
Rocket Lab said after the close on Wednesday that the first launch of its Neutron rocket is now expected in 2027. Its shares fell every day of the week and finished down 25.5 per cent, the steepest decline among the 20 U.S. space companies SpaceQ tracks.
Piper Sandler cut AST SpaceMobile to neutral from overweight on Tuesday, citing competition from SpaceX in satellite-to-phone service, and lowered its price target by 44.9 per cent, to $US 54. AST ended the week down 20.2 per cent.
Satellogic dropped 25.4 per cent, Sidus Space 23.2 per cent, Planet Labs 21.1 per cent and Momentus 20.2 per cent; in all, 18 of the 20 U.S. names fell. The S&P 500 slipped 1.9 per cent, while the Procure Space ETF dropped 6.4 per cent. Its worst day was Wednesday, when U.S. consumer price figures showed inflation picking up in September.
Comtech reported fiscal 2026 results late Wednesday, and its shares jumped 13 per cent the next day, making it the only U.S. name with a double-digit gain for the week. Its lenders also extended a covenant holiday, a pause on loan conditions, to July 2027. Karman Holdings gained 6.4 per cent.
The U.S. Federal Aviation Administration published notice on Wednesday of a full environmental review of SpaceX’s plan to launch Starship from Starbase, Texas, up to 456 times a year. SpaceX’s shares fell 10.2 per cent over the week.
International roundup: Eutelsat leads a European rally
Eutelsat rose 28 per cent for the week to €1.77, about $2.81, with almost all of the gain coming on Wednesday and Friday.
SES rose 11.4 per cent to €4.17, about $6.64. OHB gained 21.4 per cent to €191.60, about $305.
Avio and Lockheed Martin announced an agreement on Tuesday to build solid rocket motors at Avio’s plant in Hurt, Va. Avio’s shares rose 6.1 per cent to €30.11, about $47.92.
Synspective, which operates small radar imaging satellites, fell 9.8 per cent in Tokyo to 1,219 yen, about $10.90. Astroscale, which services and removes satellites in orbit, lost 8.2 per cent to 1,081 yen, about $9.67.
The Nikkei 225 fell 4.9 per cent on Thursday, the day both companies took most of their losses; Tokyo markets had been closed Monday for a holiday. Lunar-lander developer ispace edged up 1.1 per cent to 383 yen, about $3.43.
Innospace, the South Korean rocket developer listed on the KOSDAQ, fell 22.9 per cent to 5,290 won, about $5.58, measured from its Oct. 8 close because Korean markets were closed last Friday. Most of the drop came Monday, when the KOSDAQ as a whole fell 4.8 per cent.
Seraphim Space Investment Trust, a London-listed fund that holds stakes in space companies, fell 6.4 per cent to £1.91, about $3.61. Its annual results on Thursday put its net asset value at about £2.40 a share, about $4.52, on June 30, more than double a year earlier. The same report shows the York Space shares Seraphim received in the July sale of ALL.SPACE had fallen in value to £6.1 million, about $11.5 million, by Oct. 13, from £21.3 million, about $40.1 million. Canadian-dollar equivalents use Friday’s exchange rates.
The SpaceQ Canadian Space Index is an equal-weighted editorial measure of Canada’s publicly traded space-economy companies, with a base of 100.00 at the close of Sept. 4, 2026. Full methodology (v1.0). The SpaceQ Canadian Space Index is an editorial measure published by SpaceQ for journalistic purposes. It is not an investable index, not a financial benchmark, and nothing in it constitutes investment advice.
Source: Yahoo Finance Canada. Figures are as of the close of Oct. 16, 2026. Innospace’s weekly move is measured from its Oct. 8 close. NSTR figures are from Yahoo Finance.