Space stocks are—forgive the phrase—skyrocketing in response to the SpaceX IPO.
In a strong example of “a rising tide lifts all boats,” investor excitement around SpaceX’s record-breaking initial public offering (Nasdaq: SPCX) has brought up the share price of competitors like Virgin Galactic (NYSE: SPCE) and Rocket Lab (Nasdaq: RKLB).
Elon Musk’s rocket company officially priced shares on Thursday and is expected to list its stock on the Nasdaq today (Friday, June 12).
Here’s how the SpaceX IPO—and subsequent $1.77 trillion valuation—has impacted other space stocks.
How are space companies’ shares responding to the Space X IPO?
As of publication, here’s where things stand:
Rocket Lab (Nasdaq: RKLB)
- Closed: up 9.26% at $114.78
- YTD as of Thursday’s close: up 64.54%
- Currently: up about 4%
Virgin Galactic (NYSE: SPCE)
- Closed: up 21.66% at $5.73
- Year-to-date (YTD) as of Thursday’s close: up 78.5%
- Currently: down about 9%
Rocket One (Nasdaq: RKTO)
- Closed: up 11.28% at $1.48
- YTD as of Thursday’s close: up 49.49%
- Currently: up about 14%
AST SpaceMobile (Nasdaq: ASTS)
- Closed: up 11.73% at $97.56
- YTD as of Thursday’s close: up 34.32%
- Currently: up about 2.5%
Astera labs (Nasdaq: ALAB)
- Closed: up 11.07% at $367.47
- YTD as of Thursday’s close: up 120.89%
- Currently: up about 5%
What’s happening with the SpaceX IPO?
Late Thursday, SpaceX told the Securities and Exchange Commission (SEC) that it would be offering 555.6 million shares. With an opening price of $135 per share, the company is set to raise $75 billion after the markets open Friday morning.
We’ll have to wait and see if it can maintain the price per share throughout the day.
