Space stocks, including SpaceX (SPCX) and AST SpaceMobile (ASTS), fell 3% after President Donald Trump signed a memo targeting 1,000 commercial space launches annually by 2030, up from 178 last year. The memo also directs NASA to return U.S. astronauts to the moon by 2028 and explore commercial routes to Mars. Despite the decline, SpaceX stock has bullish Wall Street coverage with a consensus rating between Buy and Moderate Buy and an average 12-month target between $213 and $225. Meanwhile, Rocket Lab (RKLB) showed strong momentum after announcing a key testing milestone for its Neutron fairing.
Space stocks saw a decline after President Donald Trump signed a memo targeting 1,000 commercial space launches per year by 2030. SpaceX (SPCX) and AST SpaceMobile (ASTS) each fell 3% as markets sold off the news. The memo directs government agencies to explore federal land for new launch and re-entry sites. The White House aims to increase annual launches from 178 last year to at least 1,000 by 2030. In addition, Trump wants to return U.S. astronauts to the moon by 2028. The memo instructs NASA to facilitate commercial transportation to the moon and commercial robotic access to Mars, and to explore commercial avenues for human missions to Mars. White House Office of Science and Technology Policy Director Michael Kratsios stated that the new national space transportation policy “meets this moment of explosive growth and positions America to lead the next era of space.”
Despite the day’s decline, SpaceX stock has received bullish optimism from Wall Street since its breakthrough IPO in June. About 40 analysts cover the name, with a consensus rating between Buy and Moderate Buy. The average 12-month target ranges between $213 and $225. CEO Elon Musk believes that SpaceX will become one of the top investments not only in space stocks but across the entire market over the next several years. While SPCX and ASTS opened the week weakly, Rocket Lab (RKLB) showed strong momentum. Shares of Rocket Lab are tracking their best monthly performance since May after the company announced a key pre-flight testing milestone for Neutron’s world-first reusable Hungry Hippo fairing.
