Space stocks are sharply down this week, with Redwire, Momentus, and Rocket Lab falling over 20% due to SpaceX's reduced IPO valuation and a failed short squeeze on Virgin Galactic. SpaceX set its IPO price at $135 per share, valuing the company at $1.75 trillion, down from earlier $2 trillion estimates, dampening sector sentiment. Despite some contract wins by companies like Intuitive Machines, the broader market pressure weighs heavily on space stocks. The SpaceX IPO roadshow starts June 11, with trading expected on June 12, likely influencing the sector's near-term performance.
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...
