SpaceX (SPCX) has started to show signs of life again after trading down nearly every day in July. You can see the recent bounce for SPCX in the chart below:
A few months ago, we saw stocks with “space” in their name or description rocket higher ahead of the SpaceX (SPCX) IPO in early June. As shown below, the four most well-known “space-stock” ETFs (three of which were first launched this year) were up 50-85% on the year at their peaks in late May.
In true rocket formation, the four space ETFs plunged just as fast as they rallied. There was a speculative fervor leading up to the SPCX IPO that completely unwound within a month.
After crashing in June and July, nearly all of the space stocks that make up the ETFs mentioned above have bounced significantly in August. As shown in the snapshot below from our Trend Analyzer tool (click here for the custom portfolio), many were up 20%+ last week, with names like Voyager (VOYG), Redwire (RDW), and Satellogic (SATL) up 50%+.
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