Space stocks stall after recent run-up, Blue Origin rocket explosion

Planet Labs PBC

29/05/2026 12:14

** Shares of most U.S. space stocks decline in premarket trading after surging all through May 
** An uncrewed Blue Origin New Glenn rocket exploded on a Florida launchpad during a test on Thursday; the rocket was due to deliver 48 Amazon Leo satellites into low-Earth orbit
** Rocket Lab RKLB.O falls 5.5%, Planet Labs PL.N down 4.1% and Intuitive Machines LUNR.O declines 7.6%
** Roundhill Space and Technology ETF MARS.Z dips 4%, while Procure Space ETF UFO.O loses 3.9%
** Space stocks have rallied recently after Elon Musk's SpaceX last week unveiled its filing for an initial public offering (IPO)
** Publicly traded space companies could benefit from investor attention if SpaceX sustains its massive valuation, driven more by long-term growth expectations than near-term earnings
** AST SpaceMobile ASTS.O among the biggest decliners, down 14.7% and set to snap an 11-day win streak, if losses hold 
  

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))