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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
After weeks of anticipation in global markets, U.S. space stocks tumbled on Friday as investors locked in gains on the day of SpaceX's market debut. The slump snapped a months-long rally fueled by the high expectations surrounding the blockbuster SpaceX IPO. According to reports, this movement reflects a classic 'sell the news' reaction following a prolonged period of speculative price appreciation.
This correction follows an exceptional performance for sector players, where AST SpaceMobile (ASTS) had reached significant highs prior to the pullback. In comparison to peers, companies such as Rocket Lab and Intuitive Machines faced similar downward pressure as liquidity flows shifted toward the new market entrant, per market data. Analysts suggest the sector had already priced in most of the positive IPO catalysts over the previous quarter, making a technical correction likely.
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Sign InLooking at current levels, ASTS closed at $97.56 (close June 11, 2026), exhibiting high volatility between a low of $86.92 and a high of $98.10 during the session. Traders should watch for price stability above the $87 support level in upcoming sessions. Additionally, markets are awaiting further cues from Fed officials following Barr's recent speech to assess the impact of borrowing costs on high-growth space technology equities.