What happened Shares of stocks of all stripes got hit hard in yesterday's broad-based S&P 500 sell-off -- but few got hit quite as hard as recent SPAC offering turned certified space stock Spire Global (NYSE: SPIR), which fell 5.6% in Monday's trading. That's the bad news. Now here's the good: On Tuesday, Spire stock is bouncing back in a big way, up 28.3%. Image source: Getty Images. So what Why is Spire, which operates a constellation of 100 Earth observation satellites and provides space-based data analysis to Earth, rocketing so hard today? Clearly, part of what we're seeing today is a relief rally, as investors buy back stocks that were sold off in yesterday's panic. But the other part of the reason Spire is rocketing probably owes more to what the company announced last week: It's acquiring another space company -- Canada's exactEarth -- for the bargain price of just 9.1 times revenue. Spire's own stock costs closer to 46 times revenue. Now what Admittedly, at last report, neither exactEarth nor Spire were GAAP-profitable companies, so referring to price-to-sales ratios only proves that exactEarth is a relative bargain next to Spire's own stock. Still, in its most recent earnings report, exactEarth appeared to be on the cusp of profitability and had already begun generating positive operating cash flow and positive free cash flow, as well. By acquiring exactEarth, Spire made a move toward becoming free-cash-flow positive itself -- and that's good news for investors. It may not be "28% gains in a single day" good news, but good news nonetheless. 10 stocks we like better than Spire Global, Inc.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Spire Global, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of September 17, 2021 Rich Smith owns shares of Spire Global, Inc. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source