Space stocks fell sharply after SpaceX began trading publicly under the ticker SPCX, with shares rising 25.77% but triggering profit-taking in other space companies. A short seller report from Fugazi Research criticized six space-related stocks, calling the sector more speculative than commercially viable and highlighting weak financials and unrealistic business plans. Key targets included Virgin Galactic, Sidus Space, AST SpaceMobile, Redwire, Momentus, and Rocket One. The report suggests that the excitement around SpaceX's IPO may cause a re-rating and decline in valuations for other space stocks lacking solid revenue or operations.
US stock futures rose after a softer-than-expected Consumer Price Index (CPI) report reduced the chances of a Federal Reserve rate hike in July. The market now awaits today's Producer Price Index (PPI) data, which could either confirm easing inflatio...
The FAA has approved SpaceX to resume Starship prototype flights after identifying the cause of a booster failure in May. The next launch, planned for July 16, will be the second flight of the Starship V3 and will carry the first third-generation Sta...
