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Cathie Wood, ARK Invest detail SpaceX thesis after buying 3.3 million shares. Rocket Lab, Firefly Aerospace shares receive upgrade.

Investing.com -- KeyBanc Capital Markets upgraded two space stocks to Overweight from Sector Weight in a note on Monday, arguing that recent sector-wide volatility tied to SpaceX's record-setting IPO has created compelling entry points across commercial space names.

Space Sector Rockets Higher Before SpaceX's Massive Market Debut

Analysts initiate coverage of SpaceX stock with buy rating, bullish price targets. But demand for shares vastly outweighs supply.

The VanEck space ETF is up 24% in five days, with Redwire, Rocket Lab, and AST SpaceMobile among the biggest movers

Rocket Lab, AST SpaceMobile Rally as SpaceX IPO Excitement Builds

(Bloomberg) -- Space and satellite-related stocks soared Tuesday as investor enthusiasm around the industry intensified after Elon Musk’s SpaceX filed for a public offering last week.Most Read from BloombergNvidia CEO Urges Super Micro to Tighten Up on ComplianceTrump Doctor Visit Renews Health Scrutiny as 80th Birthday NearsTrump Says He’ll Announce Negotiated Deal With Iran ShortlyRubio Sees Good News Coming on Hormuz as Iran Talks ContinueUS, Iran Inch Toward Deal as Gaps Remain on Uranium, S

Shares of space and satellite companies surged in premarket trading on Tuesday, extending the sector’s recent rally following SpaceX’s public filing for what is expected to become the largest initial public offering ever launched. Redwire (NYSE:RDW) climbed 15% ahead of the opening bell, while MDA Space (NYSE:MDA) advanced 13%.

Shares of Firefly Aerospace rocketed higher after the space technology company reported better-than-expected first-quarter earnings. Firefly is still a smaller, growing company. Wall Street was looking for sales of $77.1 million, according to FactSet.

Space IPO plays Firefly Aerospace and Voyager Technologies report late Monday. Rocket Lab reports Thursday.

All three major US stock indexes were up over 2.0% in late-morning trading Wednesday after the US an