Space stocks soar on upbeat sentiment, Trump sets sights on Mars
Jan. 22, 2025 4:11 AM ET
By: Jessica Kuruthukulangara, SA News Editor
 Alones Creative/iStock via Getty Images
Space stocks soared on Tuesday as bullish sentiment in the sector swelled after President Donald Trump took office, with investors expecting more opportunities for private players.
Stock moves: Redwire Corp (NYSE: RDW) +51.4%, Mynaric (NASDAQ: MYNA) +48.1%, Viasat (NASDAQ: VSAT) +32.9%, Rocket Lab (NASDAQ: RKLB) +30.3%, Momentus (NASDAQ: MNTS) +24.7%, Intuitive Machines (NASDAQ: LUNR) +23.9%, Planet Labs (NYSE: PL) +22.3%, Sidus Space (NASDAQ: SIDU) +22%, Telesat (NASDAQ: TSAT) +7.4%.
In his inauguration speech, Trump said the U.S. will pursue its "manifest destiny into the stars, launching American astronauts to plant the Stars and Stripes on the planet Mars."
SpaceX ( SPACE) Elon Musk, who was seated behind Trump, gave an enthusiastic thumbs up at the statement. Recall that colonizing Mars is a major goal for SpaceX and Musk.
"Post the election, there seems to be this very deep and broad excitement about opening up private space opportunities," Deutsche Bank analyst Edison Yu told CNBC.
Another catalyst has been Trump nominating Shift4 ( FOUR) CEO and commercial astronaut Jared Isaacman to be the next NASA administrator, which Yu said "was very well received by the institutional community."
Related ETFs: (BATS: ARKX), (NASDAQ: UFO), (NYSEARCA: ROKT) |
