Why Space Stocks Crashed to Earth Today

·3 min read
Why Space Stocks Crashed to Earth Today

On yet another miserable day for stock markets, shares of rocket stocks are braking hard. As of 1:15 p.m. ET, small rocket-makers Rocket Lab USA (NASDAQ: RKLB) and Astra Space (NASDAQ: ASTR) are down 6.4% apiece, while Earth observation satellite company Planet Labs (NYSE: PL) shows a 6.5% loss. On a relatively brighter note, space tourism company Virgin Galactic Holdings (NYSE: SPCE), which has lost 38% of its stock market value since the new year began, is down "only" 3.4% today.

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