Space stocks are rocketing as SpaceX keeps making pre-IPO headlines with first Starship launch

SpaceX conducted its first test launch of the latest Starship and Super Heavy booster on May 22, achieving partial success despite technical issues. The 407-foot rocket deployed two modified Starlink satellites and 20 simulators before one Super Heavy booster engine failed and a Starship engine failed to ignite, though the vehicle completed its mission by splashing down in the Indian Ocean. The test marks a critical step toward SpaceX’s goal of making Starship fully operational, a reusable rocket designed to cut launch costs and carry over 100 metric tons to orbit. The company has invested over $15 billion in Starship development, with plans to use it for internal satellite launches and third-party contracts. Astrolab and Voyager Technologies have already secured deals, including Voyager’s $90 million agreement for a Starship launch. Voyager CEO Dylan Taylor called SpaceX’s upcoming IPO a potential boost for the broader space industry, attracting more investment and attention. SpaceX filed for an initial public offering last week, targeting a June listing and raising up to $80 billion at a valuation of $2 trillion. If successful, it would surpass previous records and accelerate SpaceX’s ambitions, including lunar missions and commercial satellite deployments. The IPO filing has already sparked rallies in space-sector stocks, with Redwire and Momentus gaining 26% and 75%, respectively, while Voyager, Intuitive Machines, and others rose by around 10%. Investor interest extends to ETFs tracking SpaceX and space technology, with funds like RONB and NASA ETFs seeing record inflows. The RONB fund, backed by SpaceX investor Ron Baron, tripled its assets in two weeks, while the NASA ETF hit $1 billion in assets in under a month. Analysts attribute the surge to SpaceX’s influence, drawing capital toward space innovation. First-quarter 2026 set a record for global space-technology investment, reflecting growing confidence in the sector. Companies like Applied Aerospace and Defense are benefiting from the momentum, as SpaceX’s progress validates the industry’s potential. The recent test and IPO plans underscore SpaceX’s role in shaping the future of space exploration and commercialization.