Why Rocket Lab, AST SpaceMobile, and Virgin Galactic Stocks Went Tumbling Today
ASTSAST SpaceMobile(ASTS) The Motley Fool·2024-04-11 02:24

It's hard for unprofitable space stocks to fight "gravity" when Fed interest rates are too high. Oh, my! Wednesday does not appear to be a good day to be invested in unprofitable space stocks! In early afternoon trading, 12:45 p.m. ET, shares of satellite telephony stock AST SpaceMobile (ASTS -6.28%) are off 6.5%, and space tourism pioneer Virgin Galactic (SPCE -6.41%) is down an even more dramatic 9.1%. Even small rocket manufacturer Rocket Lab (RKLB -2.34%) is seeing its shares sell off a modest 2.5% desp ...