Why the Electro Optic Systems (ASX:EOS) share price is shooting higher today

The Electro Optic Systems Holding Ltd (ASX: EOS) share price is shooting higher today follow the company’s release of its SpaceLink presentation. At the time of writing, the Electro Optic Systems share price is up 2.59% to $6.73. In comparison, the All Ordinaries Index (ASX: XAO) is edging 0.9% higher to 6,829 points.

Let’s take a look at what’s driving the Electro Optic Systems share price today.

What’s moving the EOS share price?

The Electro Optic Systems share price is on the move after the company advised it will build and operate a medium earth orbit (MEO) satellite constellation. It projects to have the system launched and operational in 2024, producing a positive operating cash flow.

The new era of satellite…