SpaceX Rallied, but These 6 Space Stocks Are Still Waiting for Liftoff
SpaceX surged after a blowout quarter and a blockbuster merger hint, yet six space stocks that were supposed to ride its coattails are all sitting on double-digit losses. What went wrong, and which one is closest to turning the corner?
SpaceX (NASDAQ:SPCX | SPCX Price Prediction) rallied after third-quarter results came in ahead of expectations. The company released them after the close on October 20, 2026. On the call, founder Elon Musk said SpaceX and Tesla (NASDAQ:TSLA) have each formed special committees to study a merger. He warned against assuming a deal will happen, then added, “Do I think it would be a good idea? Yes.” In premarket trading on Thursday, SpaceX traded at $153.90, a pullback from Wednesday’s close but still up 8.5% over the past week.
In April, 24/7 Wall St. named six space stocks it expected to rise with a SpaceX listing. The thesis held that the listing would push values higher across the whole space sector. So far, that has not happened for these stocks. All six are lower since April 20. Below, they are ranked on second-quarter execution: revenue growth, results against consensus, backlog and progress toward profitability. The smaller, unprofitable names carry speculative risk.
6. AST SpaceMobile Missed on Both Lines
Giant satellites that connect ordinary smartphones directly from orbit are built by AST SpaceMobile (NASDAQ:ASTS). The April case was that a SpaceX IPO would spotlight connectivity infrastructure. Shares are down 49.5% since April 20. Q2 revenue of $31.52 million missed the $34.40 million consensus. Loss per share of $0.77 also missed the $0.29 estimate and included a $125.9 million loss linked to the BB7 launch incident. Watch progress toward about 45 satellites in orbit by early 2027.
5. Intuitive Machines Bought Growth but Losses Deepened
Intuitive Machines (NASDAQ:LUNR) lands spacecraft on the moon. Since buying Lanteris in January 2026, it also builds satellites at scale. The April case was its concentrated exposure to lunar infrastructure. The stock is down 60.4% since April 20. Q2 revenue grew more than four times to $206.17 million, with no consensus estimate available, and backlog reached a record $1.76 billion. The net loss widened to $62.84 million, and shareholders’ equity was negative $290 million. Watch whether full-year adjusted EBITDA turns positive as guided.
4. BlackSky Beat on Revenue and Missed on EPS
BlackSky Technology (NYSE:BKSY) sells satellite imagery with frequent revisits and AI analytics, mostly to governments. The April case was new capital flowing toward persistent monitoring plays. Shares are down 53.6% since April 20. Revenue of $33.32 million beat the $29.93 million consensus and grew 50.1%. Adjusted EBITDA turned positive at $4.74 million. A $10.5 million derivatives loss pushed the GAAP loss to $0.54 per share, missing the $0.3467 consensus. Watch whether 2026 revenue falls within the confirmed $130 million to $150 million guidance range.
3. Redwire Beat on Both Lines as Orders Grew
Redwire (NYSE:RDW) builds spacecraft components and, through Edge Autonomy, military drones. The April case was greater market attention on enabling technologies. Its 16.2% drop since April 20 is the smallest of the six. Revenue of $117.07 million beat the $107.66 million consensus and rose 89.6%. The $0.09 adjusted loss per share came in better than the $0.13 estimate. A book-to-bill of 1.42 raised backlog to a record $542.13 million. Adjusted EBITDA remained negative at $3.2 million. Watch the growth over the rest of the year toward $450 million to $500 million in 2026 revenue.
2. Planet Labs Delivered a Profitable Quarter While Its Stock Fell Hardest
Planet Labs (NYSE:PL) photographs Earth’s entire land daily and sells the data by subscription. The April case was leverage to the data-services boom. Shares are down 63.4% since April 20, the largest drop of the six. Revenue of $116.05 million beat the $104.22 million consensus and grew 58.1%. Non-GAAP EPS of $0.02 exceeded the consensus estimate of a $0.0213 loss, its fifth consecutive beat. Adjusted EBITDA reached $13.93 million. Watch fiscal third-quarter revenue against guidance of $101 million to $105 million.
1. Rocket Lab Posted Record Revenue and a $2.36 Billion Backlog
The space company Rocket Lab (NASDAQ:RKLB) launches rockets and builds satellites. The April case was direct exposure to every additional launch cadence. Shares are down 40.0% since April 20. Q2 revenue of $234.07 million beat the $230.94 million consensus and rose 62%. The $0.08 GAAP loss per share missed the $0.0767 consensus estimate due to $8.58 million in acquisition costs. Backlog rose 137% to a record $2.36 billion. Watch Neutron, which is targeted for delivery to the launch pad in Q4 2026. CFO Adam Spice said the timing of the first successful Neutron test flight is the key pivot.
What It Will Take for These Stocks to Catch SpaceX
SpaceX combines launches and Starlink with a fast-growing compute business. The market is rewarding that AI exposure and the merger story, but these six names offer neither, as 24/7 Wall St. noted on October 21. Four of the six beat revenue estimates, yet their stocks have not followed SpaceX higher.
To catch up, these companies have to turn backlog into profit and fly new hardware on schedule. The clearest test is Rocket Lab. Management says the first successful Neutron flight would bring adjusted EBITDA positivity in the following quarter. That flight is the trigger to watch.
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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, moderating workshop sessions at regional conventions.
