Here's My Top Space Stock to Buy on the Dip
Space could be the next frontier for investors; industry analysts believe space could be a $1 trillion industry by 2040. Wall Street is already looking ahead; several new space-focused companies have gone public in recent years. However, the nascent industry is still riskier than most, with no clear picture of which companies will become the big winners over the coming years.
Instead of putting your money into unproven, speculative question marks, consider proven winners with existing businesses supporting their space segments. Aerospace and defense company Northrop Grumman (NYSE: NOC) is my favorite of this group. The company's space ties go back to the earliest satellites and the lunar module that put humankind on the moon. Here is why investors should consider venturing into the future with shares in their portfolio.
New public space start-ups are very speculative; many have little or no revenue, instead relying on future projections to draw investors to their stock. But Northrop Grumman doesn't have that issue. Its Space Systems segment is already a substantial part of what it does, generating nearly $9 billion in revenue through nine months of 2022, the company's largest division by revenue year to date.
Source Fool.com
