SpaceX and AST SpaceMobile Drop Despite Trump's Launch Memo
Despite President Donald Trump signing a memo aiming for at least 1,000 annual launches by 2030, SpaceX (SPCX) fell 3% to $133.48 in early trading on Monday. Similarly, AST SpaceMobile (ASTS) dropped 3%, and Rocket Lab (RKLB) declined slightly as well. The Procure Space ETF (UFO), however, only dipped by 0.4%, indicating broader satellite and defense stocks are stabilizing the sector while pure-play launch companies face pressure. The market appears to be discounting execution risks over policy optimism, with investors focusing on near-term milestones rather than long-term goals outlined in Trump's directive. Rocket Lab’s CFO Adam Spice noted that a successful Neutron test could turn EBITDA positive soon but warned the timeline is tightening for an end-of-year launch. Other space-related stocks like Intuitive Machines (LUNR) and Planet Labs (PL) also declined, while Virgin Galactic saw minor losses.
Tickers: $ASTS $RKLB $SPCX $UFO
Topics: AST SpaceMobile Rocket Lab satellite industry SpaceX Trump policy memo