Space Stocks: What to Know as SPCE and ASTR Shoot Higher Today


Space stocks are on the rise today as shares of Virgin Galactic (NYSE:SPCE) and Astra Space (NASDAQ:ASTR) take off both for their own reasons.

Rocket launching

Source: 3Dsculptor /

Starting with SPCE stock, it’s heading higher today after announcing flight plans. The company intends to send its founder, Sir Richard Branson, into space as part of its test flights. This could happen as early as July 11 if weather permits.

Of course, Virgin Galactic isn’t just moving forward with plans to send its founder to space for no reason. It’s looking to beat Blue Origin to the punch. That rocket company, founded by Amazon (NASDAQ:AMZN) CEO Jeff Bezos, is also planning to send its founder to space in the future.

News of the founder launch has SPCE seeing heavy trading today. As of this writing, more than 82 million shares of the stock have changed hands. That’s a major jump over its daily average trading volume of 28.5 million shares. SPCE stock is also sitting 8.1% higher as of Friday afternoon.

Next up we have to talk about ASTR stock rising higher today after its debut on the Nasdaq Exchange. The company went public through a special purpose acquisition company (SPAC) merger with Holicity.

Trading volume is doing well today with over 5 million shares of ASTR stock traded as of this writing. That’s over halfway to the company’s daily average trading volume of about 9.4 million shares. ASTR stock is also up 15.9% as of Friday afternoon.

It’s not just space stocks that are heading higher today.

There’s plenty of other stock market news for knowing and InvestorPlace has you covered. That includes the latest news that has TAT Technologies (NASDAQ:TATT), Eco Wave Power (NASDAQ:WAVE), and AMC Entertainment (NYSE:AMC) shares moving today. You can learn all about that at the links below!

More Stock Market News for Friday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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