Space stocks, including SpaceX (SPCX) and AST SpaceMobile (ASTS), each fell 3% as markets sold off Donald Trump’s 1,000-launch-by-2030 memo. Entering the weekend, the US President signed a memo to help drastically increase the number of U.S. commercial space launches, including directing government agencies to look at federal land for new launch and re-entry sites. The White House wants to enable at least 1,000 launches and re-entries annually by 2030, up from 178 launches last year.
In addition to the launch quota, Trump also wants to return U.S. astronauts to the moon by 2028. The memo directs NASA to facilitate commercial transportation to the moon and commercial robotic access to Mars, and to explore commercial avenues to send humans to Mars. White House Office of Science and Technology Policy Director Michael Kratsios said the new national space transportation policy “meets this moment of explosive growth and positions America to lead the next era of space.”
SpaceX stock is receiving bullish optimism from Wall Street despite today’s decline and struggles since its breakthrough IPO in June. About 40 analysts are covering the name, with a consensus rating somewhere between Buy and Moderate Buy, and an average 12-month target between $213 and $225. That bullishness also comes from internally, as CEO Elon Musk believes that SpaceX will wind up being one of the top investments not just in space stocks, but on the entire market over the next several years.
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Furthermore, while SPCX and ASTS may not be moving well to open the week, Rocketlab (RKLB) is showing strong momentum. Shares of Rocket Lab (RKLB) are tracking their best monthly performance since May as the company announced a key pre-flight testing milestone for Neutron’s world-first reusable Hungry Hippo fairing.
