A host of space companies went public in the 2020-2021 SPAC frenzy, but the past year has been brutal for extraterrestrial stocks, opening a window for investors to scoop up leading names at deflated prices. The SPAC boom hit a wall in 2022 and the associated space stocks plummeted, regardless of the fundamentals at the core of each company or their often very different roles in the growing space economy. Shares of most space SPACs are down between 40% and 85% over the past 12 months, trading far below debut prices. Wall Street gives multiple reasons why a dozen space stocks have been driven down: the market’s flight from riskier assets, a lack of understanding of space-based business models – but above all, the pop in the SPAC bubble. Among the stocks affected: Astra , BlackSky , Momentus , Planet Labs , Redwire , Rocket Lab , Satellogic , Spire Global , Terran Orbital , Virgin…
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