What Happened
NASA Awards And Quarterly Results Drive Sector Momentum
Space stocks experienced a rollercoaster ride over the past week, with a selloff in high-growth tech and concerns over Pentagon spending. However, NASA’s lunar awards and strong earnings reports from companies like Rocket Lab and SpaceX have driven sector momentum. Rocket Lab’s record revenue and backlog, as well as AST SpaceMobile’s new Japan venture, have contributed to the gains. The sector is expected to continue its growth trajectory, with companies like Firefly and Intuitive Machines reporting their quarterly results soon. This article was first reported by Benzinga.