Why Planet Labs and Virgin Galactic Dropped Today -- but Virgin Orbit Popped

·2 min read
Why Planet Labs and Virgin Galactic Dropped Today -- but Virgin Orbit Popped

Monday was a hard day to own space stocks, as investors in companies like Rocket Lab USA, Astra Space, Planet Labs (NYSE: PL), and Virgin Galactic (NYSE: SPCE) rejected growth stocks and sold off space stocks wholesale. On the one hand, shares of satellite operator Planet Labs and space tourism pioneer Virgin Galactic are both still in the red -- down 6.7% and 0.5%, respectively. On the other hand, Virgin Galactic's sister company, Virgin Orbit (NASDAQ: VORB), which launches satellites into orbit from rockets deployed mid-air from a converted 747 airliner, is doing just fine today.

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