Space Stocks Plummet as SpaceX FOMO Fades; Four Companies Down Over 50% in June

According to MarketWatch, on Thursday, June 25, at least four space industry stocks fell over 50% in June as market enthusiasm following SpaceX's June 12 listing began to fade. Virgin Galactic (SPCE-US), Redwire (RDW-US), Intuitive Machines (LUNR-US), and Momentus (MNTS-US) all declined over 50%, while Rocket Lab (RKLB-US) fell 43% for the month. SpaceX itself dropped 1% on Thursday to approximately $153 per share.

CFRA analyst Keith Snyder said SpaceX's listing had highlighted the issue of overvaluation in the sector. The Procure Space ETF (UFO-US) fell 30% this month, marking its worst single month in six years, while Tuttle Capital Space Industry Income Blast ETF declined 47%, the poorest performer among space-focused ETFs.