These Rocket Stocks Sold Off on the SpaceX IPO. KeyBanc Says It's Time to Buy the Dip

These rocket stocks sold off on the SpaceX IPO. KeyBanc says it's time to buy the dip

Firefly and Rocket Lab can benefit from SpaceX's record-smashing IPO, even though they initially fell after the Musk-controlled firm's debut, KeyBanc said.

SpaceX IPO Sparks Space Stock Selloff, Sending AST SpaceMobile (NASDAQ: ASTS) Tumbling 15%

AST SpaceMobile (NASDAQ: ASTS), the provider of a space-based cellular broadband network accessible directly by standard smartphones, closed Friday at $82.41, down 15.53% on the session. The sharp decline was driven by a broad “space-stock shakeout,” as investors rotated out of existing space-sector holdings following the highly anticipated debut of SpaceX on public markets. AST SpaceMobile is considered one of the most competitively exposed com…

Rocket Lab and Firefly Aerospace Are Buys After SpaceX IPO Selloff

The SpaceX IPO was the biggest in market history — but it triggered a painful selloff in the rest of the space sector. Rocket Lab (RKLB) tumbled nearly 11% on the day SpaceX debuted on Nasdaq, while Firefly Aerospace cratered 19%. Now, KeyBanc Capital Markets says the selloff was overdone and has upgraded both stocks, seeing a compelling buying opportunity in the post-IPO volatility. KeyBanc analyst Michael Leshock upgraded Firefly to overweight…

Space Stocks Dip on SpaceX IPO

SpaceX ($SPCX) began trading on the NASDAQ on Friday, closing the day at $161.11—19% higher than its IPO price of $135. SpaceX’s strong first day out was coupled with a significant pullback among investors in other publicly traded space companies, sending major players down across the board, including: Planet Labs ($PL): -8.8% Rocket Lab ($RKLB): -10.8% EchoStar ($SATS): -11% Intuitive Machines ($LUNR): -13.1% AST SpaceMobile ($ASTS): -15.5% An…

AST SpaceMobile Dips as Space IPO Buzz Fades Ahead of BlueBird Launch

AST SpaceMobile plunged 15.5% to $82.41 on heavy volume as U.S. space stocks tumbled after SpaceX’s market debut, with investors eyeing the June 17 Falcon 9 launch of BlueBird satellites 8, 9 and 10 as the next major catalyst for the high-expectation, loss-making company. The post AST SpaceMobile Dips as Space IPO Buzz Fades Ahead of BlueBird Launch appeared first on TechStock².