SpaceX Climbs 3% as Lockup Expiration Fails to Trigger a Selloff; AST SpaceMobile and Rocket Lab Rise 5% Quick Read – SpaceX (SPCX) and AST SpaceMobile (ASTS) shares advanced as SpaceX’s 911 million unlocked shares sparked a rally instead of a selloff. – Intuitive Machines…
UNR) led the broader complex with a 8% gain, while the Procure Space ETF (UFO) climbed 1% on sector-wide momentum. – SpaceX’s Q2 revenue beat estimates by 15%, with AI segment revenue surging 247% YoY and Starlink subscribers doubling to 12 million. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Rocket Lab didn’t make the cut. Grab the names FREE today
Space stocks are climbing early Thursday, led by SpaceX (NASDAQ:SPCX) shares rising 3% to $111.14 as the company’s first and largest post-IPO share lockup tranche expires. Evidently, the feared selloff didn’t occur this morning. AST SpaceMobile (NASDAQ:ASTS) shares are jumping 5% to $72, while Rocket Lab (NASDAQ:RKLB) shares are rising 5% to $78.57.
Meanwhile, the Procure Space ETF (NASDAQ:UFO) is up 1% to $47.19 as sector momentum builds. The rally caps a volatile stretch for SpaceX stock, which had been trading below its June IPO price after a post-earnings selloff. Lockup Expiration Fails to Trigger the Feared Selloff Today marks the first and largest of nine staggered lockup tranches for SpaceX.