Space stocks slump as blistering rally cools after SpaceX market debut - Reuters

Article excerpt

Space industry stocks have tumbled as investor enthusiasm wanes following what many anticipated would be SpaceX's long-awaited initial public offering. The sudden cooling reflects the sector's volatile boom-and-bust cycle: companies riding euphoria over commercial spaceflight and satellite broadband have seen valuations soar, only to crash when reality meets hype. Analysts point to rising interest rates, slowing government contracts, and questions about profitability as headwinds. The selloff raises questions about whether the space economy can sustain the growth narrative that powered a years-long rally, or whether investors have gotten ahead of the actual business fundamentals.