🔴 MDA is trading 4.5% down today as investors take profits after a $688M contract-driven spike

MDA is trading 4.5% down at $35.92 as investors take profits following a sharp run-up on news of a major contract win.

• The company announced a $688 million deal with the Canadian Space Agency to design, build, launch, and operate a synthetic aperture radar replenishment satellite.
• The contract will support the replenishment of Canada’s RADARSAT Constellation mission.
• Shares had surged in pre-market trading following the announcement before retracing during the regular session.