US space stocks slide ahead of SpaceX's first trade

Planet Labs PBC

12/06/2026 14:49

Updates
** Shares of U.S. space companies drop in early trading, reversing premarket gains ahead of the hotly anticipated market debit of Elon Musk-led SpaceX SPCX.O     
** SpaceX on Thursday priced the biggest-ever U.S. initial public offering at $135 per share, making it one of the world's most valuable companies
** The IPO raised a record $75 billion on the sale of 555.56 million shares, valuing the company at $1.77 trillion, a record for an IPO
     ** Space stocks fall: Intuitive Machines LUNR.O down 10.2%, Planet Labs PL.N slides 6.9%, Satellogic SATL.O sheds 6.7%, Virgin Galactic SPCE.N drops 25% 
** Roundhill Space & Technology ETF MARS.Z drops 6%, Procure Space ETF UFO.O dips 4.8%
** Rocket Lab RKLB.O, which is set to be added to the Nasdaq 100 index, also declines 6.7%

    ** Satellite communications company EchoStar SATS.O, which owns SpaceX shares, slides 9.2% - among the biggest decliners on the S&P 500 .SPX
  

    ** Close-ended funds Destiny Tech100 DXYZ.N and Fundrise Innovation Fund VCX.N - which hold SpaceX stock - drop around 8% each
  

        
  

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