Why Rocket Lab, Planet Labs, and AST SpaceMobile Stocks Keep Falling
2025-01-08 14:38:01 ET
Are space stocks just momentum stocks ? It kind of felt that way in 2024, as shares of Rocket Lab (NASDAQ: RKLB) and AST SpaceMobile (NASDAQ: ASTS) both roughly quadrupled, and Planet Labs (NYSE: PL) nearly doubled. As the calendar flips to 2025, however, the momentum seems to be fading -- and not even positive headlines can keep it up.
Arguably good news for AST SpaceMobile , a satellite communications company, didn't help the stock much on Monday, and by Tuesday, the stock was headed lower once again. AST shares are down another 5.2% through 11:11 a.m. ET Wednesday. Planet Labs stock, which builds Earth observation satellites, is likewise suffering its second straight down day, losing 3.9%.
And Rocket Lab itself is the most curious case of all. Yesterday, Rocket Lab was picked to help out Kratos Defense on a new defense contract to research hypersonic rockets, and today, investment bank Stifel raised its price target on Rocket Lab stock to $31 -- but Rocket Lab stock is down 6.4%.
NASDAQ: RKLB
RKLB Trading
-7.12% G/L:
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12,925,843 Volume:
$128.10 Open:
