Commercial space stocks decline sharply amid broad profit-taking after recent rallies, with no company-specific catalysts.
Commercial space stocks fell sharply in midday trading Tuesday, with Rocket Lab (RKLB), Planet Labs (PL), and Intuitive Machines (LUNR) dropping 9%, 6%, and 5%, respectively. The selloff appears coordinated across the sector, affecting launch, Earth observation, and lunar services companies after strong recent gains.
Rocket Lab reported Q1 FY2026 revenue of $200.35M, up 64% year-over-year, with a $2.2B backlog. Planet Labs saw remaining performance obligations surge 361% YoY to $672.47M, including a €240M German contract. Intuitive Machines posted Q1 FY2026 revenue of $186.73M, a 199% YoY increase, following its $800M Lanteris acquisition.
The decline follows a period of extreme momentum, with profit-taking emerging as the likely driver. Prediction markets reflected high conviction for a downside move, with Polymarket pricing a 99% probability of RKLB closing lower today.