Virgin Galactic Plunges 32% as SpaceX IPO Triggers Space Stock Selloff

On June 13, space-focused stocks experienced a broad selloff following SpaceX's market debut at a $2.1 trillion valuation. Virgin Galactic (SPCE-US) declined 32%, Rocket Lab (RKLB-US) fell 11%, while Firefly Aerospace dropped 19% and AST SpaceMobile retreated 16%. Space-focused ETFs also weakened, with Global X Space Tech ETF down nearly 8% and VanEck Space ETF sliding 6.8%. Analysts attributed the declines to a shift in investor focus and capital toward SpaceX, with traders moving positions from smaller competitors into the newly listed aerospace giant.
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