Aerospace and Defense Equities Cool, While Virgin Galactic (SPCE) Shares Swing > 40%

(The United States of America) Aerospace and defense equities – including the much-hyped space sector, ahead of SpaceX’s planned June 12th IPO – continued to cool off today (Jun. 1), after initial responses to Blue Origin’s May 29th New Glenn explosion; contrary to the rest of the ‘space’ group, shares of Virgin Galactic (SPCE) continue to move higher amid massive volatility.

Photo courtesy of Virgin Galactic.

Lagging the space sector, specifically, as of 12.25am ET, shares of Redwire (RDW) are down 15.75% at $20.70, Rocket Lab (RKLB) is down 13.38% at $123.55 and BlackSky (BKSY) is down 13.12% at $42.11; with shares of Intuitive Machines (LUNR), Firefly Space (FLY) and AST SpaceMobile (ASTS) following closely behind.

Virgin Galactic (SPCE) shares are up more than 15%, above $7.15 – continuing a run that began last week after the company disclosed preliminary court approval of a proposed settlement in shareholder derivative litigation, the return of its VSS Unity spacecraft to flight operations and the commencement of its Operation Period.

Virgin shares are up 186% since opening at $2.50 on May 20th.

** Not investment advice; neither The FLY Report nor FLYJETS – nor any associated individual – is a registered investment adviser.