SpaceX and AST SpaceMobile Fall 5%, Rocket Lab Sheds 4% as China Rocket Milestone and Oil Spike Hit Space Stocks
China’s Long March 10B booster recovery raised competitive concerns as WTI crude oil jumped 4.41%, sending space stocks lower.
- On July 10, China's Long March 10B successfully landed a reusable first-stage booster using a sea-based net-and-hook platform, marking the country's first orbital-class booster recovery.
- Bernstein analysts named China a "leading competitor" following the successful landing, rattling SpaceX investors already concerned about competitive pressure in the commercial launch sector.
- Shares of SpaceX fell 5% to $138.58 in early Monday trading, a fresh record low sitting below the $150 debut price and well off the $225 peak from June 16.
- Broader sector weakness impacted other space firms, with Rocket Lab falling 4% to $78.10 and AST SpaceMobile sliding 5% to $69.82 as investors de-rated speculative growth names.
- The Strait of Hormuz conflict lifted WTI crude oil 4.41% to $74.56 per barrel, pressuring the NASDAQ 100 down 1.09% and disproportionately affecting high-beta, pre-profit stocks like SpaceX.
18 Articles
18 Articles
China makes significant progress with the recovery of the Long March-10B, a booster that returned from low orbit
Commentary: China’s Rocket Recovery May Mark a Space Industry Inflection Point
Commentary: China’s Rocket Recovery May Mark a Space Industry Inflection Point - The Long March 10B’s recovery matters less as a spectacle than as a test of whether performance gains can translate into sharply lower launch costs
SpaceX and AST SpaceMobile Fall 5%, Rocket Lab Sheds 4% as China Rocket Milestone and Oil Spike Hit Space Stocks
A surprise milestone from China's space program just cracked the story Wall Street told itself about American rocket dominance, and it sent shockwaves through a sector already rattled by spiking oil prices.
Ten years ago, the era of reusable missiles began with the space company SpaceX from Elon Musk. Now, as the world's second state, China has succeeded in recovering – but with a completely different landing technique.
China successfully recovered the first stage of a rocket after a launch on Friday, in a significant advance for the country’s space program, the state press reported. The first stage of a Long March-10B rocket broke away from the second stage after takeoff and returned to a platform at sea, said [...] SpaceX entry has competition: China and Japan already capture reusable rockets was first published in AgendAR.
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