From CNBC: 2024-11-15 17:42:06

Rocket Lab conducted a hot fire test of an Archimedes engine for their Neutron rocket. The past week saw pure-play space stocks rally, with some leaders up by as much as 20%. Analysts attribute this “Trump-Elon trade” to President-elect Donald Trump’s relationship with SpaceX CEO Elon Musk. Rocket Lab, Intuitive Machines, Spire Global, and others saw significant gains due to strong Q3 results and individual updates. The broader market sentiment is also boosting these stocks, with a risk-on rally post-Trump win. Space stocks have outperformed this year, with some companies tripling or quadrupling in value. Investor interest in the space sector is increasing, driven by national security and ambitious space programs like Artemis and SpaceX’s Mars goals. SpaceX’s dominant position in rocket launches is benefiting other companies in the sector. Newer space companies are climbing while older legacy players like EchoStar and Viasat are sliding, representing a changing of the guard in the space industry. Despite significant gains, analysts believe the bullish sentiment in the space sector will continue, fueled by the incoming Trump administration’s focus on space. Rocket Lab CEO expects the industry’s momentum to persist under the new administration.



Read more at CNBC: Space stocks rally on ‘Trump-Elon trade,’ analysts say