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Yahoo Finance Senior Reporter Brooke DiPalma joins Market Domination to tackle today's top trending tickers, including the momentum driving SpaceX (SPCX) shares in Friday's session after the company's IPO, the impact it is having on other space stocks Virgin Galactic (SPCE) and Rocket Lab (RKLB), and how semiconductor stocks such as Micron Technology (MU) and Nvidia (NVDA) are moving on the historic public offering.
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.
Fugazi Research said many listed space companies generate little revenue, rely heavily on stock offerings to fund operations, and remain years away from proving the commercial viability of their business models.
Shares of Virgin Galactic (NYSE:SPCE) are down 24% in early Friday trading, while Rocket Lab (NASDAQ:RKLB) stock is down 8% and AST SpaceMobile (NASDAQ:ASTS) stock is trading 10% lower. These price moves arrive on the same morning that privately held SpaceX is making its long-awaited trading debut. The selloff is jarring given the surrounding hype. ... Virgin Galactic Craters 24%, Rocket Lab Drops 8%, AST SpaceMobile Falls 10% as SpaceX Hype Triggers a Space-Stock Shakeout
🔎 SpaceX (SPCX): Elon Musk’s rocket company will make its stock-market debut later today. ↗️ Virgin Galactic (SPCE), AST SpaceMobile (ASTS), Rocket Lab (RKLB): Stocks tied to the space industry are jumping premarket.
Virgin Galactic is gaining after a strong sector rotation into space stocks ahead of the SpaceX IPO.
Shares of aerospace and defense company Rocket Lab (NASDAQ:RKLB) jumped 6.5% in the afternoon session after the space sector rallied on enthusiasm for the upcoming initial public offering (IPO) of SpaceX.
Virgin Galactic stock is a wave of SpaceX IPO momentum sweeps through the sector. But is it already too late to invest in SPCE shares now?
Space stocks are catching a strong bid at midday Thursday, June 11. Virgin Galactic (NYSE:SPCE) stock is leading the pack, up 20% intraday on a fresh liquidity catalyst, while sector peers ride a broader wave of enthusiasm into a highly anticipated SpaceX IPO window. AST SpaceMobile (NASDAQ:ASTS) stock is up 7%, Planet Labs (NYSE:PL) stock ... Virgin Galactic Soars 20%, AST SpaceMobile Rises 7%, Planet Labs Gains 6%, Rocket Lab Advances 5% as Space Stocks Catch a Bid
Virgin Galactic stock popped nearly 24% ahead of SpaceX's IPO.
Virgin Galactic took a step to strengthen its balance sheet by converting a portion of its debt into equity as it prepares for commercial operations.
Morningstar said SpaceX's bull-case "Moonshot" scenario, involving successful orbital data centers and AI satellites, has only a 7% chance of materializing.
The Procure Space ETF (NYSEARCA:UFO) has gone from a sleepy thematic vehicle to one of the sharpest risers in the market, with UFO shares up about 32% in the past month and 165% over the past year. That move is being powered by a re-rating of small commercial space names like Virgin Galactic (NYSE:SPCE), which ... UFO ETF Faces a Concentration Crisis as Virgin Galactic Surge Becomes Unsustainable
Virgin Galactic Holdings (NYSE:SPCE) plans to redeem up to $30.5 million of debt by issuing new shares. The move immediately increases the share count, diluting existing shareholders and reshaping the capital structure. The announcement has been followed by sharp share price swings, highlighting mixed investor reactions. Virgin Galactic sits at a $4.72 share price, with the stock up 92.7% over the past month and 43.5% year to date. Over the past 3 years the stock has declined 94.3% and over...
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
Hedge funds seeking bearish bets on SpaceX have reportedly approached Jefferies, which was absent from the IPO's underwriting lineup.
SpaceX is gearing up for what could be the largest IPO in history later this month.
Intuitive Machines is using the stock market’s recent strength to raise needed capital. On Wednesday, the maker of lunar landers and other space technology announced plans to sell $5oo million in stock. Coming into Wednesday trading, Intuitive Machines stock had surged 54% over the past month.
Virgin Galactic stock recorded its biggest single-day slide after announcing a debt repayment mechanism involving the issuance of common stock.
To the moon? Perhaps not—but shares of suborbital flight company Virgin Galactic are certainly on a ride this week.
Space stocks have been all the rage lately, ahead of SpaceX’s massive initial public offering. Shares of the space tourism pioneer dived 34% in early trading on Tuesday to $5, while the was down 0.1%. Setting off the decline was the company’s announcement that it plans to pay back millions in debt by issuing stock.