Space Stock Rally Fizzles as Investors Await SpaceX Debut

The sell-off hit speculative players hard. AST SpaceMobile led the decline with a 13% slide, while EchoStar and Rocket Lab both shed 9.3% of their value. Redwire followed closely, dropping 8.7% as traders braced for the volatility surrounding Elon Musk’s aerospace giant.

SpaceX priced 555.6 million shares at $135 apiece, successfully raising $75 billion. While shares have yet to open for public trading, early market indications suggest a debut price between $170 and $175. This range remains fluid, shifting constantly as buy and sell orders flow into the exchange ahead of the official launch. The company, which leans heavily on its satellite internet unit alongside a developing artificial-intelligence arm, is set to redefine market expectations for the space sector once trading commences later today.