Stocks to buy

3 Space Stocks to Make Your `Get Rich` Dreams Come True

Space stocks are generally from either new or fairly new publicly traded companies. These companies have growth potential due to the fact that space exploration is a growing industry. It has seen attention due to the recent commercial space flights that have taken place.

Much larger companies have already been working heavily on providing products and logistics support in the space exploration industry. But these companies also offer numerous other services for the U.S. Government and other entities. Below I will discuss three companions that focus entirely on space exploration giving attention to them. At the same time, they may be overshadowed by much larger companies with more access to resources.

Virgin Galactic (SPCE)

Virgin Galactic (SPCE) banner hanging on the New York Stock Exchange building to celebrate its IPO.

Source: Christopher Penler / Shutterstock.com

Virgin Galactic (NYSE:SPCE) is a space travel company that has been one of the market’s most popular space and exploration stocks since its initial public offering in late 2019. The company focuses primarily on developing and operating spacecraft for human spaceflight.

Virgin Galactic has been in the news recently, announcing their inaugural commercial spaceflight with three crew members aboard from the National Research Council of Italy and the Italian Air Force. The goal of the spaceflight was to conduct research experiments. The next commercial spaceflight is scheduled for sometime in August, with monthly flights planned moving forward.

Virgin Galactic’s share price in the last couple of years has drastically changed from an all-time high of nearly $56 per share, to now trading in penny stocks territory. The company is investing in improving its fleet and acquiring more spacecraft.

At this point, the company is continuing to lose money working on the development and maintenance of its fleet of spacecraft. With a recent span of good news for the company especially regarding its first commercial space flight, investors are still weary due to its present and future profitably concerns. The company will need to charter a much larger number of spaceflights than planned to become profitable.

Rocket Lab USA (RKLB)

(RKLB stock, space stocks) satellite over the Earth

Source: Andrzej Puchta / Shutterstock.com

Rocket Lab USA (NASDAQ:RKLB) provides the space and defense industry with launch services and satellite components. They operate two launch sites, one in Virginia and one in New Zealand. And, they have deployed 163 satellites.

The company recently started trading publicly with their IPO date of August 2021, which would take place through a special purpose acquisition company (SPAC) merger with Vector Acquisition (NASDAQ:VAQC). Year-to-date in 2023, the company has seen an increase of 54% in their stock price.

Rocket Labs reported revenue growth of 35% in the first quarter of 2023 compared to the previous year. They also announced the first launch of a satellite from their U.S based launch site in Virginia, which occurred in January.

Intuitive Machines (LUNR)

Intuitive Machines (LUNR) black and white logo displayed on smartphone screen with desktop screen behind it showing company website and image of moon

Source: shutterstock.com/T. Schneider

Intuitive Machines (NASDAQ:LUNR) is the newest stock on this list which only started being publicly traded in February of this year. Through a SPAC merger with Inflection Point Acquisition (NASDAQ:IPXXU). Intuitive Machines is a space exploration company that focuses on providing space products. This includes their Micro Nova Hopper, a drone that travels across the lunar surface which can carry a payload or customers, and other space infrastructure services.

The company announced that their Nova-C lunar lander is expected to make its first trip to the moon this year. And, the company secured a five-year, $719 million contract through NASA to deliver orbital services to their Joint Polar Satellite System

On the date of publication, Noah Bolton did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Noah has about a year of freelance writing experience. He’s worked with Investopedia dealing with
topics such as the stock market and financial news.

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