On Tuesday (May 19), U.S. stocks saw a significant pullback in space concept stocks, almost entirely reversing yesterday's gains. As of the time of writing:
Main individual stocks:
<ul>
<li>Destiny Tech100 (DXYZ.US) down 9.08%, at $48.19</li>
<li>Rocket Lab USA (RKLB.US) down 9.43%, at $118.79</li>
<li>AST SpaceMobile (ASTS.US) down 5.38%, at $82.16</li>
<li>EchoStar (SATS.US) down 0.81%, at $135.34</li>
<li>Procure Space ETF (UFO.US) down 2.73%, at $56.02</li>
</ul>
Derivatives saw larger declines:
<ul>
<li>RKLX.US down 19.00%, at $72.22 (up nearly 10% yesterday)</li>
<li>ASTX.US down 11.03%, at $30.26</li>
<li>NASA.US down 3.00%, at $34.73</li>
</ul>
It is noteworthy that the sector continued to decline throughout the day, with almost no rebound: DXYZ.US peaked at only $53.00 during the day (flat from yesterday's close), then fell steadily, with intraday losses expanding to 10%; RKLX.US reached a high of $83.43 and a low of $72.22, with a fluctuation of over 14%; RKLB.US fell below the $120 mark.
On the news front, this round of pullback is mainly due to the excessive speculation in the sector yesterday. On Monday, Musk's statement to &#34;accelerate the SpaceX IPO&#34; drove the sector to rise 5%-13% in a single day, but the market quickly realized that this statement was merely directional and lacked a specific timeline or filing arrangements. Today, popular stocks on WallStreetBets generally declined before the market opened, with clear signs of retail funds withdrawing. Destiny Tech100, as a &#34;shadow fund of SpaceX,&#34; experienced amplified pullbacks due to its high premium/low liquidity characteristics when sentiment reversed

SpaceX is accelerating its Nasdaq listing process, with an expected debut as early as June 12th. The IPO is projected to raise over $80 billion, aiming to be the largest in global capital market history. To pave the way for the listing, SpaceX will implement a 5-for-1 stock split to lower the barrier to entry for investors, and Elon Musk has explicitly pledged not to reduce his holdings. The funds raised will primarily be used for the Starship project and the construction of a low-Earth orbit data center. Financial details of the xAI business, recently incorporated into SpaceX, will also be disclosed for the first time in the prospectus. Wall Street generally believes that the current US stock market has sufficient liquidity to absorb this "super asset" that combines AI and cutting-edge technology. What are your thoughts? Let's discuss!

SpaceX is accelerating its Nasdaq listing process, with an expected debut as early as June 12th. The IPO is projected to raise over $80 billion, aiming to be the largest in global capital market history. To pave the way for the listing, SpaceX will implement a 5-for-1 stock split to lower the barrier to entry for investors, and Elon Musk has explicitly pledged not to reduce his holdings. The funds raised will primarily be used for the Starship project and the construction of a low-Earth orbit data center. Financial details of the xAI business, recently incorporated into SpaceX, will also be disclosed for the first time in the prospectus. Wall Street generally believes that the current US stock market has sufficient liquidity to absorb this "super asset" that combines AI and cutting-edge technology. What are your thoughts? Let's discuss!

SpaceX's target launch date: June 12th

DXYZ

RKLB

RKLX

NASA

ASTS

The hype around the SpaceX IPO has cooled, and space concept stocks collectively plummeted during Tuesday's trading session. DXYZ and RKLB fell over 9% during the session, while the derivative RKLX dropped nearly 19%, and ASTX fell over 11%. Almost all of yesterday's gains were wiped out, and the market shows clear divergence in digesting Musk's "directional statement."

Movers Alert

Destiny Tech100

Rocket Lab

Defiance Daily Target 2X Long RKLB ETF

Tema Space Innovators ETF

Procure Space ETF

AST SpaceMobile

Echostar

Tradr 2X Long ASTS Daily ETF

Space stocks collectively plummet, SpaceX IPO hype cools, RKLX (RKLX.US) drops nearly 19%