• Mattel Inc (NASDAQ: MAT) stock price rose 4.12% in the previous trading session. That is why.

Mattel Inc (NASDAQ: MAT) stock price rose 4.12% in the previous trading session. Investors responded positively to Mattel by announcing that it had entered into a multi-year agreement with SpaceX to create and market products that inspire children and collectors “to tap into their inner space explorer.”

Next year, Mattel will begin releasing SpaceX-inspired toys under its iconic Matchbox brand. And simultaneously, collectibles inspired by astronomy will begin to debut on Mattel Creations, Mattel’s collaboration and direct sales platform.

KEY QUOTES:

“We pride ourselves on our ability to create products and experiences that honor cultural moments and inspire humanity. As space exploration moves faster than ever, we’re excited to work with SpaceX and help create limitless play patterns for every child’s space explorer.

—Nick Karamanos, SVP Entertainment Partnerships at Mattel

“At SpaceX, we believe that a future in which humanity is among the stars is fundamentally more exciting than a future in which we are not. We look forward to working with Mattel to help inspire the next generation of explorers and space enthusiasts.

— Brian Bjelde, Vice President of SpaceX

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.