Booming space stocks have started to bust after a multiyear run.
This timed up perfectly after the Space Exploration Technologies IPO last month, which has sent many stocks down in an elevator-like fashion in the ensuing weeks
AST SpaceMobile (NASDAQ: ASTS) is down 52% from its highs, while Redwire (NYSE: RDW) has fallen 64%, taking investors on a roller coaster of volatility. The two space economy stocks are now trading at massive discounts compared to just a few weeks ago. But which is the better buy for your portfolio today?
If you look at the numbers, the answer is clear. AST SpaceMobile operates in a competitive satellite internet sector AST SpaceMobile has seen significant appreciation in its share price, pushing its market capitalization to $22 billion despite generating close to zero revenue. Investors are excited about this stock because it aims to build a satellite internet business with direct-to-device capabilities.