SpaceX Shares Drop 3%, Rocket Lab Falls 9% and AST SpaceMobile Slides 7%
On July 28, 2026, SpaceX (NASDAQ:SPCX) shares fell by 3% to $109.96, continuing a decline of over 30% since its June IPO. Rocket Lab (NASDAQ:RKLB), down 9%, and AST SpaceMobile (NASDAQ:ASTS), which dropped 7%, also faced downward pressure despite positive developments like new contracts or upcoming satellite launches. Rocket Lab recently secured a $266 million U.S. Space Force contract for suborbital missile defense missions, while its Q1 FY2026 revenue reached record levels at $200.3 million with a growing backlog of $2.2 billion. AST SpaceMobile is preparing to launch three more BlueBird satellites in early August. Despite these catalysts and the broader Procure Space ETF falling 2%, investor sentiment remains cautious, influenced by concerns over SpaceX's valuation and an upcoming lockup expiration that could trigger insider selling.
Tickers: $ASTS $RKLB $RTX $SPCX
Topics: congressional_activity lockup_expiration space_sector stock_price_drop