This measure has outperformed Apple, Netflix and Amazon By Benzinga Spain

Strong growth in subscribers iridium telecommunications company (NASDAQ:IRDM) Over the past four years, it has caught the attention of famed money manager Cathy Wood, and despite the satellite communications provider’s recent annual loss, the stock has performed well over the years.

Iridium subscribers grew to nearly 1.48 million in 2020, indicating a compound annual growth rate (CARG) of about 12% from 2016. The company recorded a lower net loss of $56.1 million in 2020, compared to 162 million dollars in the previous year. Additionally, revenue increased to $583.4 million in 2020, which is a 6.11% compound annual growth rate over 2016.

Wood’s investment firm, Ark Invest, has raised 12.3 million shares, valued at $578 million, through three of its active public exchange traded funds: Ark innovation (NYSE: ARKK), Ark Autonomous Technology and Robotics (Bates: ARKQ) and ETF Ark Space Exploration & Innovation (Bates: ARKX).

Iridium ranks third and fifth in the ARKX and ARKQ portfolio of 36 and 40 names, respectively. Furthermore, it ranks 23rd in the ARKQ portfolio of 48 stocks.

After months of buying shares in Iridium of Virginia-based McLean, Ark Invest made some gains with two back-to-back selling this week as shares jumped more than 15% after rumors that the new iPhone from Apple company (NASDAQ 🙂 You will use your satellite connection to enable emergency calls and text messages in places where phone service is not available.

The New York-based investment firm has sold 86,447 iridium shares so far this week.

How’s the revenue going since 2006, the stock is a competitor to Global Star Company (NYSE: GSAT), outperformed Apple’s excellent earnings, Netflix (NASDAQ: NASDAQ 🙂 and Amazon.com Inc (NASDAQ: NASDAQ:).

Iridium is back 21% so far this year, rising from $6.94 a share in September 2016 to $46.91 at the end of Thursday, indicating a return of 529.66%.

Apple shares are back 19.06% so far this year, and the stock went from $25.78 per share in September 2016 to $154.07 at the end of Thursday, a gain of 436.27%.

Netflix, on the other hand, has returned about 14.28% so far this year and the stock has risen from $99.48 per share in September 2016 to $597.54 at Thursday’s close, indicating a return of 500.66%.

All told, Amazon shares have gained 9.34% so far this year and the stock has risen from $778.52 per share in 2016 to $3484.16, representing a return of 347.5%.

Image source: Iridium

Read the article also in Benzinga Spain