Space stocks rise and shine in early trading
AST SpaceMobile, RocketLab, and Planet Labs were all up early Monday, despite little news linked specifically to these — all money-losing — space launch and satellite services that have become popular among the retail trading crowd.
More broadly, however, there is report of a big merger of satellite businesses operated by European aerospace and defense giants Airbus, Thales, and Leonardo in order to create a European satellite monopoly.
The new satellite entity would be aimed in part at reducing European reliance on Elon Musk’s privately held SpaceX, as Musk has come to be seen as an capricious and unreliable partner as a result of his flirtation with international far-right politics and his posture toward Ukraine.
While it’s a bit of a bank shot, some of the upstart companies like RocketLab — which have also positioned themselves as a SpaceX alternative — may be up on the theory that what’s bad for Musk and SpaceX may well be good for them.
The new satellite entity would be aimed in part at reducing European reliance on Elon Musk’s privately held SpaceX, as Musk has come to be seen as an capricious and unreliable partner as a result of his flirtation with international far-right politics and his posture toward Ukraine.
While it’s a bit of a bank shot, some of the upstart companies like RocketLab — which have also positioned themselves as a SpaceX alternative — may be up on the theory that what’s bad for Musk and SpaceX may well be good for them.
