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Space and satellite stocks dip despite Trump’s 1,000-launch goal by 2030
SpaceX and AST SpaceMobile both fell about 3%, while the Procure Space ETF dropped only 0.4%, suggesting diversified satellite and defense exposure is cushioning the selloff.
Space-focused stocks slid on Monday as markets weighed a policy memo calling for federal agencies to target at least 1,000 launches and re-entries annually by 2030, a Reuters-cited directive that aims to scale up activity from last year’s 178 launches.
Yahoo Finance reports SpaceX (SPCX) fell about 3% to $133.48 in early trading, while AST SpaceMobile (ASTS) was down about 3% to $66.85. Rocket Lab (RKLB) also slipped, losing roughly 2% to $71.22.
The selloff looked concentrated in “pure-play” launch names, with the Procure Space ETF (UFO) down just 0.4% to $45.75. In the background, Rocket Lab’s CFO Adam Spice said a Neutron test launch could shift the company to positive EBITDA, while CEO Beck said the time window to reach year-end milestones is narrowing.
The memo directs agencies to identify federal land for new launch and re-entry sites, name a new federal re-entry site within 90 days, expedite permitting, speed environmental reviews, and secure wireless spectrum, with White House Office of Science and Technology Policy Director Michael Kratsios describing it as a commercial-first approach.