🚀 The 2024 Space Stock Rally

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The Space Scoop

Week Ended 12.20.2024

Happy Friday! We're nearing the end of 2024 and we hope you all have plans for a relaxing year-end. The Q1 earnings calendar is officially underway and we're expecting a quiet newswire next week so this will be our last newsletter for the year. Catch us on X as we will be tweeting, but otherwise see you in 2025!

Market Max-Q

Top Stories

1) Was 2024 the first inning for space investors?

• After a grueling 2022 - 2023, (most) space investors were heavily rewarded for their pain in 2024. In what was another continued bullish year for market indexes, 2024 saw rallies from a broader group of mid and lower market capitalization stocks backed by growing investor interest, long-term industry optimism and operational milestone successes.

• The double-digit club includes: 

  • Intuitive Machines ($LUNR) +431%

  • Redwire ($RDW) +387%

  • Rocket Lab ($RKLB) +350%

  • AST SpaceMobile ($ASTS) +280%

  • SatixFy ($SATX) +231%

• While the above have bred many riches, there were also the losers:

  • Astra ($ASTR) -76% (delisted)

  • Terran Orbital ($LLAP) -78% (acquired)

  • Virgin Galactic ($SPCE) -88%

  • Mynaric ($MYNA) -93%

• See the Chart of the Week below for a visual of the above.

• Let's hope that 2025 continues on the good fortunes. Tune in next week on our X account for the final numbers. 

In Other News

Synspective Goes Public 

(Payload)

The Japanese SAR satellite builder and operator IPO'd on Wednesday in Tokyo. Shares opened at ¥736 and closed at ¥635 on 13.5M of volume. The company raised $60M+ from the offering and has a market cap of ~$435M as of Friday close. Synspective forecasts $15M of revenue in 2024 and a loss of $(22)M. This June, the company raised a $44M Series C round at a $283M valuation.

Momentus $5M ATM Offering 

(Company)

The priced at-the-market offering was conducted with a single institutional investor for 800k shares and warrants at $6.20 per share, with warrants exercisable at $6.08 for five years. $MNTS intends to use the net proceeds from the offering for general corporate purposes, including repayment of debt.

Sidus $14M Private Placement 

(Company)

The Securities Purchase Agreement (SPA) with investors to issue 6.8M common shares and 3.4M common warrants at $2.07 per share. Accredited and institutional investors took place in the offering. $SIDU intends to use the proceeds from the offering for working capital and general corporate purposes.

Chart of the Week

YTD 2024 Performance: We hope you've all outperformed the market indexes this year. Stay tuned for final numbers next week!

Links

• SpaceX Wants To Incorporate Starbase as a New City in Texas• Honeywell ($HON) Explores Strategic Alternatives of Business Including the Potential Separation of Aerospace Business• Rocket Lab ($RKLB) Delivers Second Pioneer Spacecraft and Completes Production/Testing of Third for Varda Space• Momentus ($MNTS) To Deploy Defense Department & Commercial Payloads on Rideshare Mission in 2026• SatixFy ($SATX) Regains Compliance With NYSE American Listing Standards• Viasat ($VSAT) Selected by DIU To Deliver Resilient Network Orchestration Software for Replicator Autonomous Systems• Globalstar ($GSAT) & Hawk Networks Announce Collaboration & Availability of Band 53 Spectrum on Hawk’s Platform• Intuitive Machines ($LUNR) Completes First Round of NASA Testing on Moon RACER Lunar Terrain Vehicle• Sidus ($SIDU) LizzieSat-2 To Launch on the Bandwagon-2 Rideshare Mission

Opinion

• Space Markets: The Year in Review• Rocket Lab ($RKLB): The Rocket Builder That Could Skyrocket Over the Next Years• AST SpaceMobile ($ASTS) Faces Major Competition From SpaceX• The Future of Robotic Mars Exploration

Earnings Calendar

• $NOC: Jan 30 - Before Market Open