US space stocks slide after SpaceX begins trading

Planet Labs PBC

12/06/2026 17:44

Updates
** Shares of U.S. space companies drop after Elon Musk's SpaceX SPCX.O begins trading on the Nasdaq 
** SPCX jumps over 20% in its debut, lifting its valuation to more than $2 trillion 

    ** Space companies had rallied earlier this year in anticipation of the IPO 
  
** Intuitive Machines LUNR.O drops 10.1%, Planet Labs PL.N slides 8.8%, Satellogic SATL.O sheds 8.9%, Virgin Galactic SPCE.N slumps 26% 
** Roundhill Space & Technology ETF MARS.Z slips 6.4%, Procure Space ETF UFO.O dips 6%
** Rocket Lab RKLB.O, which is set to be added to the Nasdaq 100 index, also declines 8.7%

    ** Satellite communications company EchoStar SATS.O, which owns SpaceX shares, slides 15.9% - among the biggest decliners on the S&P 500 .SPX
  

    ** Close-ended funds that hold SpaceX stock are mixed; Destiny Tech100 DXYZ.N drops 16.7%, while Fundrise Innovation Fund VCX.N gains 5% 
  

 (Reporting by Joel Jose and Shashwat Chauhan in Bengaluru)
 ((joeljose@thomsonreuters.com))