Most Space Stocks Crashed in 2022. These 3 Could Fly in 2023.
It's hard to make predictions, especially about the future, as anyone who tried to invest in space stocks over the past year can tell you.
2021 was the year of the space IPO, as multiple start-up space stocks first merged with special purpose acquisition companies (SPACs), then went public in what were essentially initial public offerings to investors. Some of these names you know: Planet Labs (NYSE: PL), Rocket Lab (NASDAQ: RKLB), and Virgin Galactic (NYSE: SPCE) (which actually was the company that started the "space-SPAC" craze with its 2019 IPO). Others are names you probably wish you'd never heard of before: Redwire Corporation, BlackSky Technology, and Spire Global -- down 79%, 83%, and 89%, respectively, from their pre-IPO prices.
In fact, after a brief period of initial success, by early 2022, each and every one of these space SPACs was trading below its pre-IPO price. And here in the early innings of 2023, they still are.
Source Fool.com
