The biggest space IPO in history has just landed, with SpaceX pricing at US$135 per share, raising US$75b and listing at a US$1.77t valuation. That kind of debut can ripple across markets, affecting everything from index weightings to how investors think about the space economy as a whole. If you are wondering which existing stocks might be most exposed to this news, this article highlights 3 stocks from our Space Economy Stocks screener that could be positively impacted. It also breaks down what this changing backdrop might mean for your watchlist and portfolio decisions.

Wall Street's queuing for one rocket. While SpaceX counts down to its IPO, other companies tied to the new space race are already in orbit. → 20 Compelling Space Companies watchlist · Global Space Race Investing Ideas screener · Scan the sector by valuation on Rocket Lab's valuation page.

Aerojet Rocketdyne Holdings (AJRD)

Overview: Aerojet Rocketdyne Holdings is a long established US aerospace and defense company that designs and manufactures liquid and solid rocket propulsion systems, hypersonic engines, and electric propulsion for space vehicles, satellites, missile defense, and other government and commercial applications, alongside a smaller real estate operation focused on monetizing surplus land.

Market Cap: US$4.67b

Aerojet Rocketdyne sits right in the slipstream of the SpaceX IPO excitement, as a key rocket propulsion supplier to US government agencies and major contractors that are heavily involved in launches, satellites, and missile defense. The stock currently trades well below one estimate of fair value, yet carries a high P/E multiple. This hints at a market that is already paying up for expected earnings growth even as recent profit margins have compressed and last year’s earnings declined sharply. Forecasts for strong profit growth, improving return on equity, and the company’s position in critical space and defense programs give investors something substantial to work with. However, the reliance on external borrowing and high non cash earnings mean the risk side of the story cannot be ignored.

SpaceX fever might be masking something in Aerojet Rocketdyne, where a high P/E sits beside compressed margins and heavy borrowing, so it is worth scanning the 2 key rewards and 2 important warning signs (1 is major!)

Intuitive Machines (LUNR)

Overview: Intuitive Machines is a Houston based space infrastructure and services company that flies payloads to the Moon, provides lunar surface access, and runs data and communications services in space for NASA, the U.S. Department of Defense, commercial customers, and international clients.

Operations: The company currently generates all of its US$334.3m in revenue from Aerospace & Defense activities in the United States.

Market Cap: US$5.76b

Intuitive Machines gives you pure exposure to the Moon economy, combining lunar landers, relay satellites and a growing data network at a time when the SpaceX IPO is drawing fresh attention to space infrastructure stocks. The company is unprofitable today and has relied on external funding and follow on equity raises, so dilution and funding risk are real. It also has a large contract backlog and record recent revenue. With insider selling, share price volatility and high expectations in the price, the key question is whether future missions and service contracts can justify the current valuation and turn today’s story into a durable business.

Intuitive Machines’ Moon rush story is accelerating. However, the real tension sits between contract momentum, funding needs and valuation pressure, so it is worth reading the 2 key rewards and 3 important warning signs (1 is major!)

Amprius Technologies (AMPX)

Overview: Amprius Technologies develops and sells high energy density silicon anode lithium ion batteries, mainly under its SiCore and SiMaxx platforms, for mobility uses such as drones, high altitude pseudo satellites and other advanced aviation applications.

Operations: The company generates about US$90.3m in revenue from its Battery Business, with sales spread across EMEA, Asia Pacific and North America.

Market Cap: US$2.37b

Amprius operates at the intersection of the new space race and next generation aviation, supplying lightweight, high energy batteries that are gaining traction in unmanned systems and defense contracts at a time when SpaceX’s record IPO is drawing fresh attention to space hardware suppliers. Demand for its cells in drones, high altitude platforms and light electric vehicles has supported premium pricing and new customer wins, while global manufacturing expansion and automation are aimed at scaling production and improving earnings quality. Set against that are risks, including customer concentration in aviation, reliance on external funding, ongoing losses and shareholder dilution. For investors willing to accept volatility and funding risk, this combination of opportunities and execution questions may make Amprius a candidate for further research.

Amprius’ high energy batteries sit at the heart of the new space race, yet the real story sits in the 3 key rewards and 3 important warning signs

The three stocks covered here are only a starting point, with the full Space Economy Stocks screener surfacing 18 more companies that also sit at the intersection of space, satellites and aerospace with their own compelling narratives. Use Simply Wall St to identify, filter and analyze the specific catalysts, financial profiles and business angles that matter most so you can focus on the highest conviction ideas in this theme.

Take Control of Your Investment Journey

If Aerojet Rocketdyne Holdings or any of these companies sound like a great opportunity, register for FREE with Simply Wall St and add your companies to a Watchlist to monitor the share price against the fair value the ideal entry point. Once you've made your move, manage your holdings with our Portfolio Command Center that filters out the noise to deliver only the most critical, actionable updates. Throughout your journey, our Community allows you to filter the best ideas from thousands of investor perspectives. By uncovering hidden catalysts and risks early, you'll accelerate your decision-making and stay one step ahead of the market.

Seeking Alternatives Before Momentum Flies Past?

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.