Shares of SpaceX, Rocket Lab, and AST SpaceMobile fall 3%-9% amid broader sector weakness despite congressional purchases of SPCX.
SpaceX shares dropped 3% to $109.96, extending a 30% decline since its June 12 IPO, as broader sector pressure weighed on peers. Rocket Lab and AST SpaceMobile fell 9% and 7% to $60.63 and $54.09, respectively, despite positive catalysts for both companies.
The Procure Space ETF declined 2% to $43.03, signaling a theme-wide selloff. Six members of Congress purchased up to $480,000 of SpaceX stock, but those positions are now underwater after eight consecutive sessions below the $135 IPO price.
The downturn contrasts with RTX’s 21% year-to-date gain and Rocket Lab’s pending $8 billion acquisition, highlighting sector-specific challenges.