Why the Spacetalk (ASX:SPA) share price has exploded 40% in a week

The Spacetalk Ltd (ASX: SPA) share price has been on fire lately, reaching gains of 40% in the last five trading days. This comes after the company provided the market with two positive updates that lifted its shares to a new 52-week high.

Spacetalk shares were trading for as little as 11 cents before going into a trading halt on 16 March. Today, the technology company’s shares are swapping hands for 15.5 cents, up 6.9% for the day and almost 41% in a week.

Let’s take a look and see what Spacetalk recently announced to the ASX market.

What’s been driving the Spacetalk share price?

New loan facility

According to the first release,…