BUZZ-US space stocks slide after SpaceX begins trading
Satellogic Inc. Class A SATL | 0.00 | |
SpaceX SPCX | 0.00 | |
Destiny Tech100 Inc DXYZ | 0.00 | |
Rocket Lab RKLB | 0.00 | |
Virgin Galactic SPCE | 0.00 |
Updates
** Shares of U.S. space companies drop after Elon Musk's SpaceX SPCX.O begins trading on the Nasdaq
** SPCX jumps over 20% in its debut, lifting its valuation to more than $2 trillion
** Space companies had rallied earlier this year in anticipation of the IPO
** Intuitive Machines LUNR.O drops 10.1%, Planet Labs PL.N slides 8.8%, Satellogic SATL.O sheds 8.9%, Virgin Galactic SPCE.N slumps 26%
** Roundhill Space & Technology ETF MARS.Z slips 6.4%, Procure Space ETF UFO.O dips 6%
** Rocket Lab RKLB.O, which is set to be added to the Nasdaq 100 index, also declines 8.7%
** Satellite communications company EchoStar SATS.O, which owns SpaceX shares, slides 15.9% - among the biggest decliners on the S&P 500 .SPX
** Close-ended funds that hold SpaceX stock are mixed; Destiny Tech100 DXYZ.N drops 16.7%, while Fundrise Innovation Fund VCX.N gains 5%