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The official trading debut of SpaceX stock has triggered a dramatic unwinding of proxy trades that investors had been using to gain indirect exposure to the space giant.
Space stocks are catching a strong updraft in midday trading. Virgin Galactic (NYSE:SPCE) stock is up 14% to $4.87, while Rocket Lab (NASDAQ:RKLB) stock is climbing 6% to around $122. The likely backdrop: SpaceX’s IPO roadshow is currently underway, and the buzz appears to be lifting sentiment across the publicly traded space proxies. Per Financial ... Virgin Galactic Surges 14%, Rocket Lab Gains 6% as SpaceX IPO Roadshow Fuels the Space Trade
SpaceX is gearing up for what could be the largest IPO in history later this month.
Virgin Galactic Holdings Inc (NYSE:SPCE) continued its remarkable advance on Thursday, 28 May, with shares climbing 19. 53% during regular trading before adding a further 14% in after-hours activity.
Shares of AST SpaceMobile (NASDAQ:ASTS) are up 8% in midday trading on May 27, changing hands near $129. The satellite direct-to-cell name is leading a space-sector sympathy rally tied to SpaceX IPO buzz. The move extends an already torrid run. ASTS stock is up 78% year to date (YTD), making it the headline mover in ... AST SpaceMobile Surges 8%; Virgin Galactic, Rocket Lab Ride the SpaceX IPO Wave
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