Telesat clears a hurdle
Telesat rose 11.1 per cent to $69.01, the week’s largest gain, after the satellite operator said on Sept. 8 that Farcast’s antenna technology had held a live link to a Telesat test satellite in orbit. The milestone clears a hurdle in a four-year partnership to build user terminals for Telesat’s Lightspeed broadband constellation.
The shares have now risen 74.4 per cent since the start of the year.
Telesat was also named to the 2026 TSX30 on Sept. 9, the Toronto Stock Exchange’s annual ranking of its top three-year performers by dividend-adjusted share price. MDA Space, also tracked by SpaceQ, kept its own spot on the list for a second year running.
The SpaceQ Canadian Space Index, an equal-weighted editorial measure of Canada’s publicly traded space-economy companies, rose 2.7 per cent to 102.67 for the week ended Sept. 11. Five of nine constituents gained. (The index’s first chart will run next week, once a third weekly close gives it enough data points to plot a trend line.)
Maritime Launch’s tenant
Maritime Launch Services rose 11.0 per cent to 46 cents.
Isar Aerospace, the German launch services company that builds the Spectrum launch vehicle, reached orbit on its second attempt on Sept. 5 — the first rocket ever to do so from Western European soil — and deployed five satellites. Isar signed a commercial deal in July for a dedicated pad at Spaceport Nova Scotia, with plans to launch from there in 2028, SpaceQ reported Sept. 10.
Maritime Launch has risen 62.5 per cent year to date. The company is listed on Cboe Canada as MAXQ.
MDA’s new product line
MDA Space fell 1.8 per cent to $40.12 despite unveiling a defence-focused version of its software-defined satellite platform on Sept. 10. MDA said the new MDA Aurora Black line is built to protect military satellite communications against cyber and physical threats.
The company has risen 50.6 per cent since the start of the year. MDA is dual-listed on the TSX and the New York Stock Exchange under MDA, after a $US 300-million initial public offering that closed March 16.
5N Plus rose 4.9 per cent to $26.80. Calian Group added 1.5 per cent to $79.47. Intermap Technologies gained 3.1 per cent to $1.01.
Behind the declines
Baylin Technologies fell 4.2 per cent to 23 cents, the week’s steepest decline. The Toronto wireless technology company sits at the bottom of its 52-week range. C-COM Satellite Systems dropped 1.1 per cent to 89 cents. Magellan Aerospace slipped 0.9 per cent to $32.62, the smallest move on the board.
South of the border
Karman Holdings fell 11.8 per cent, the largest U.S. decline tracked, with shares still under pressure from J Capital Research’s Sept. 2 short-seller report questioning the company’s cash flow and internal controls. Planet Labs dropped 9.2 per cent after analysts cut their consensus price target by 13 per cent to $34.82 on Sept. 7, raising loss-per-share estimates 42 per cent even as 2027 revenue estimates held steady. Spire Global, the U.S. Earth-observation and space-data company that acquired exactEarth Ltd. of Cambridge, Ont., in November 2021, fell 4.7 per cent.
SpaceX rose 2.2 per cent. EchoStar gained 3.7 per cent. Redwire added 0.9 per cent. Iridium Communications and Globalstar each rose 0.2 per cent.
The Procure Space ETF fell 1.0 per cent. The S&P 500 dropped 0.8 per cent, and the S&P/TSX Composite declined 2.2 per cent.
Number of the week
€544 million Roughly $871 million shared among three European launch companies under the European Space Agency’s Launcher Challenge, announced Aug. 27.
The board
| Company | Ticker | Close, Sept. 11 | Week | YTD | 52-week range |
|---|---|---|---|---|---|
| Telesat | TSAT | $69.01 | +11.1% | +74.4% | 71% |
| Maritime Launch Services | MAXQ | $0.46 | +11.0% | +62.5% | 62% |
| 5N Plus | VNP | $26.80 | +4.9% | +51.2% | 37% |
| Intermap Technologies | IMP | $1.01 | +3.1% | -45.4% | 4% |
| Calian Group | CGY | $79.47 | +1.5% | +44.7% | 74% |
| Magellan Aerospace | MAL | $32.62 | -0.9% | +76.8% | 62% |
| C-COM Satellite Systems | CMI | $0.89 | -1.1% | +9.9% | 36% |
| MDA Space | MDA | $40.12 | -1.8% | +50.6% | 41% |
| Baylin Technologies | BYL | $0.23 | -4.2% | -11.5% | 0% |
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 Sept. 11, 2026.