Space stocks down big - buy opportunity or is there still more downside coming?
After the huge runup of space stocks near the end of last year, here are the 1 month returns for some of reddit's favorites:
RKLB -13.48 (-44.05%)
ASTS -2.00 (-6.42%)
LUNR -13.15 (-65.98%)
RDW -12.39 (-52.39%)
BKSY -8.31 (-47.38%)
As you can see, it's been an absolute bloodbath for speculative space stocks in the past month, with 4 out of these 5 losing at least 40% of their value. Some of this has been bad earnings and, for LUNR, a bad moon landing, but this magnitude of drawdown is quite extreme and I can't help but feel the macroeconomic environment is exaggerating these losses. What do you guys think about these stocks? Which ones have the brightest future, if any? And would you invest now or do you think there are further losses on the horizon?
- Disclaimer: I have open positions in ASTS and LUNR