The broad-based rally in space-related equities has reversed sharply, with the leading exchange-traded fund tracking the space economy on course for its worst monthly performance in six years.
The downturn reflects a sustained shift in investor sentiment, moving from speculative fervor to caution as valuations face scrutiny.
Shares of the aerospace company tumbled 16% in a single session, closing at $154.
SpaceX, the bellwether for the sector, led the decline.
Shares of the aerospace company tumbled 16% in a single session, closing at $154.60.
This steep drop marks the lowest level for the stock in recent trading and underscores the breadth of the selling pressure across the industry.
The sell-off is not isolated to SpaceX but has spread across the board, punishing space stocks regardless of their specific business models.