Why Intuitive Machines Popped, but Rocket Lab and AST SpaceMobile Stocks Dropped Today
Volatility ran amok among space stocks Tuesday. Shares of lunar explorer Intuitive Machines (NASDAQ: LUNR) rocketed 35.6% through 3 p.m. ET, but rocket maker Rocket Lab (NASDAQ: RKLB) and satcom specialist AST SpaceMobile (NASDAQ: ASTS) declined -- down 6.2% and 12.3%, respectively.
AST's decline comes after the FCC permitted Globalstar (NYSE: GSAT) to operate 17 new cellphone-to-cellphone satellites that could compete with AST. The FCC also extended Globalstar's operating license through 2039.
Momentum traders flocked to Rocket Lab and AST SpaceMobile in August, anticipating high-profile space missions launching soon. Rocket Lab stock is up an astounding 40% since Aug. 1 after delivering twin "EscaPADE spacecraft" to Cape Canaveral for a mission to Mars.
Source Fool.com
