Why the Field Solutions (ASX:FSG) share price shot up 50% today

The Field Solutions Holdings Ltd (ASX: FSG) share price is soaring today after the company shared news it has secured $20 million worth of government funding.

The Australian rural, regional and remote telecommunications carrier was awarded the funding by the Federal Government’s Regional Connectivity Program Fund (RCP).

After the news broke, the Field Solutions share price soared 50%. It has since dropped to trade for 16 cents, which is still a gain of 10.71%.

Let’s look closer at the news from Field Solutions.

Delivering broadband to previously underserviced Australian areas  

Field Solutions said the funding from RCP will help it deliver new networks in 5 states and territories where broadband and connectivity are…