3 Space Stocks You Can Buy on the Dip and Hold for Years
The recent dip in the markets offers investors a strong selection of potential investment vehicles that might someday go to the moon in the financial sense. In the literal sense, a few space-based companies have set their sights in that general direction for the near future, aiming for continued success and growth if and when market pressures abate.
Virgin Galactic Holdings (NYSE: SPCE) hopes to become the first real passenger spacecraft company, and it has years of experience and investment that could well pay off as soon as early next year. Maxar Technologies (NYSE: MAXR) is a leader in geospatial intelligence. While it dipped during the pandemic, the satellite imagery expert has shown it can succeed as the space race continues into the future. And Rocket Lab USA (NASDAQ: RKLB) has a diverse portfolio of space logistics services, continuing successful launches as a satellite delivery company with plenty of room and plans for growth.
Virgin Galactic relies on the allure of space tourism to bring in investors, and each year it inches closer to deploying passenger flights. Missing that goal before the 70th birthday of its founder, Richard Branson, sent the stock tumbling in 2020 from around $22 to new lows closer to $6 recently, but the space cruise retains much of its promise. The stock's resilience shows as recently as the summer of 2021, when Richard Branson finally reached space and sent share prices soaring again in mid-July before another roller-coaster ride led to recent lows.
Source Fool.com
