Filetic (LSE: FTC) He was recently in the Almighty Run, until now having an 82% year to reach 137 pence. But the two -year profit is even more stunning, because it was a stock market trade for only 13 pence in June 2023.

This makes there 10-bargers during this period!

However, the price of a filtronic action dropped by up to 10% on June 6. What caused this? And should I buy a dip?

Changing Spacex Partnership game

Filtronowe designs and produces high -frequency communication products for various sectors, including telecommunications, aviation and defense. Its products include transmitters of the electronic bandwidth, amplifiers mounted on the tower and other radio frequency components (RF).

Over the years, the company has secured contracts with such as BAE systemsIN Qinetiqand the European Space Agency. However, it was a strategic partnership with SpaceX announced last year to provide specialized equipment for the Satellite Satellite constellation, which caused an augment in shares.

In February, Filtronic secured its largest production order from SpaceX, worth USD 21 million, which are to be met in the next few years. This gave the company that it would overcome earlier market expectations against FY2025 and FY2026.

Looking to the future, the company should also have an attractive preparation of development opportunities in European markets defense and satellite communication.

Enter Musk vs Trump

The founder of Spacex is of course Elon Musk and simply spent spectacularly with President Trump. I will not convert details similar to the soap opera here, because they are widely available elsewhere. But Trump threatened to terminate federal contracts for Muska, including Spacex.

This prompted the musk to announce immediate withdrawal from the Dragon Spacex Spacex, which is of key importance for the transport of astronauts and load to an international space station.

What does this have to do with Filtronic? Well, Reuters informs that about USD 22 billion may be threatened. If so, the SpaceX budget and the continuous pace of Starlink construction can be threatened. This can lead to a reduction in the need for filtronic components in the coming years.

Considering that filtronic scaled production and research and development to satisfy the future demand, it may encounter excessive capacity and pressure to marginalize. In this situation, the sentiments of the filter actions can be fed by sending them much lower.

It is all simply theoretical. As I write, Musk withdrew the decision about Kneejerk Dragon’s capsules, and it even seems to be a public meeting with Trump. But literally everything can happen from that moment.

Should I buy filter actions?

Weighing everything, it seems that there is no direct threat to filter. And withdrawing share prices is not so earnest in a great scheme of things. As I write, it’s only 6%.

The company’s revenues in FY2026, which have just begun, predict that they are £ 50 million. It would be twice as much as in the 2013 budget year, signaling a very solid growth.

However, these shares are currently the subject of trading at about 45 -there are no dividends. A significant part of the company’s current value rests with Spacex, which can be a double -edged sword if something goes wrong.

Investors, taking into account shares, should have attention to the relatively high risk of valuation and customer concentration. Although I like the history of SpaceX growth here, I don’t want to buy any shares now.