Why Rocket Lab, AST SpaceMobile, and Virgin Galactic Stocks Went Tumbling Today
Oh, my! Wednesday does not appear to be a good day to be invested in unprofitable space stocks!
In early afternoon trading, 12:45 p.m. ET, shares of satellite telephony stock AST SpaceMobile (NASDAQ: ASTS) are off 6.5%, and space tourism pioneer Virgin Galactic (NYSE: SPCE) is down an even more dramatic 9.1%. Even small rocket manufacturer Rocket Lab (NASDAQ: RKLB) is seeing its shares sell off a modest 2.5% despite getting some pretty good news yesterday.
So, what exactly is going on here?
Source Fool.com