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A European Starlink rival's shares skyrocketed 390% in a week — here's why

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Shares of French satellite operator Eutelsat skyrocketed almost 390% last week .

The firm's stock price saw wildly volatile moves last week , up by as much as 77% on Tuesday and by another 120% on Wednesday .

The gains follows speculation that Eutelat could replace Elon Musk's Starlink in the embattled Ukraine .