AST SpaceMobile, Intuitive Machines, and Rocket Lab Tumble While Iridium Gains

Space stocks delivered a mixed week of performance last week, with established players showing resilience while high-growth names faced pressure. The sector continued its volatile trajectory as investors weighed near-term execution risks against long-term orbital infrastructure opportunities.

As we begin a new week, it looks like the trend willonce again be weighted to selling off ‘risk’ and growth. In premarket trading this morning, AST SpaceMobile (Nasdaq: ASTS) is down 2.5%, Rocket Lab down 1.7%, and Planet Labs (NYSE: PL) is down 3.3%.

Let’s dive into what happened last week to see what the trends in space have been so far in 2026.

Weekly Performance Tracker

As we noted in our free daily newsletter this morning, infrastructure plays across tech sectors are showing divergent performance as investors reassess growth timelines.

M&A Activity Reshapes Sector

Intuitive Machines announced its $800 million acquisition of Lanteris Space Systems in November, expected to close in Q1 2026. CEO Steve Altemus framed the deal as positioning the company “as next generation space prime.” The acquisition comes as LUNR carries a $235.9 million backlog and $622 million in cash. Reddit sentiment hit 88 (Very Bullish) on Saturday morning as investors digested consolidation implications.

Deutsche Bank last week issued a research note that featured Intuitive Machines as a top stock idea surrounding America’s return to the moon. The researcher has an $18 price target on Intuitive Machines, but noted SpaceX’s recent ‘pivot’ back to the moon and general interest in creating a base on its surface leads to Intuitive Machines being the most logical beneficiary.

Rocket Lab secured a record number of launch contracts while advancing its Neutron launch vehicle. The company is working through qualification tests in hopes of a first launch as early as the middle of the year. Last week, 24/7 Wall St. author Rich Duprey took a look at how hypersonic tests could be another catalyst for Rocket Lab’s stock.

Financing and Index Inclusion

AST SpaceMobile’s week was dominated by financing activity, generating sustained discussion on r/wallstreetbets with peak engagement of 858 upvotes and 254 comments. The company graduated to the MSCI World Index effective February 27, 2026, creating predictable passive fund buying pressure despite concerns reflected in the week’s double-digit decline.

Overall, shares sank 19%, one of the worst performances across the broader space industry. It looks like this week is once again starting with a rotation away from ‘risk assets’ and into safer industries. If that situation continues, it will lead to broad selling across pre-revenue stocks.

Iridium Communications led gainers after reaffirming steady service revenue growth guidance and highlighting strong operational momentum in its IoT business. Iridium has a much different profile than many other space stocks, in that it’s now defending a cash-cow business. Investors cheered their latest quarterly earnings, but that’s because shares were down massively across the past year headed into earnings. That is to say, investors were happy to see the results simply weren’t worse. 

The upcoming months should be action-packed with the Artemis mission returning to the moon scheduled for March. We’ll see if broader enthusiasm surrounding that mission leads to more positive sentiment for space stocks.