If You Can Only Buy One Space Stock Now, It Better Be One of These 3 Names

InvestorPlace06-06

Even though the private sector space race is still in its infancy you can still find exciting space stocks to buy. Rocket Lab USA (RKLB): The second most successful space company after SpaceX is ready...

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Certainly, SpaceX has made it seem simple, even awe-inspiring again. After NASA abandoned its mission, it took Elon Musk to aim for Mars to rekindle the fire for exploring the heavens.\nWhile current efforts seem more mundane, mostly rockets launching satellites into orbit (and a visit or two to the International Space Station), there is still the goal of exploration and, in the case of Virgin Galactic (NASDAQ:SPCE), creating a cottage industry out of space tourism. All of these could turn into lucrative opportunities. Morgan Stanley analysts believe the space economy could evolve into a $1 trillion opportunity by 2040.\nBelow are three companies that are capitalizing right now on the opportunity. For investors looking to the stars for the best space stocks to buy, you can begin your journey by having these companies on the launchpad.\nSpace Stocks to Buy: Rocket Lab USA (RKLB)\nSource: Andrzej Puchta / Shutterstock.comRocket Lab USA (NASDAQ:RKLB) is the second most successful space stock after SpaceX, having launched 49 rockets to date. It just launched its latest rocket on Jun. 5 to put two “shoebox-size cube satellites” into orbit to measure how much heat Earth radiates into space. Rocket Labs has placed 185 satellites in orbit, while over 1,700 satellites were put into space using Rocket Labs technology.\nRocket Lab not only designs rockets but also manufactures them, designs satellite components, develops flight software, and more. Its current Electron rocket does all the heavy lifting, but the space stock will soon put its new Neutron rocket into action, which could help realize the promise of space. It is designed for deep space exploration and human space flight, and like SpaceX’s rockets, it is reusable. That will significantly reduce costs for Rocket Lab stock, up 23% from its April lows, but at under $5 a share, it represents a cheap way to put your portfolio in orbit.\nIntuitive Machines (LUNR)\nSource: Below the Sky / Shutterstock.comWhile Rocket Labs has accomplished more missions, Intuitive Machines (NASDAQ:LUNR) has actually been to the moon. Its lunar lander touched down on the moon’s surface, though it tipped over in the process. Oops! A second mission to our planet’s neighbor is scheduled for later this year. It seeks to improve upon what Intuitive Machines has achieved. The flight is scheduled for the fourth quarter, with a third lander penciled in for 2025.\nHowever, Intuitive Machines is also looking to commercialize its rockets. Someone has to pay the bills, so it plans a fully commercial flight after its third launch and says it has “signed contracts with multiple payloads” ready to go.\nThe space stock also vies for participation in NASA’s Commercial Lunar Payload Services program, which delivers payloads to the moon’s surface. It is also working on NASA’s lunar rover project in connection with the space agency’s Artemis moon exploration program.\nLUNR stock also trades in the sub-orbital range under $5 a share. Following the lunar mishap, Intuitive Machine’s stock collapsed from $11. The next launch could rocket the stock into the stratosphere again, so I think it is one of the most promising space stocks to buy.\nProcure Space ETF (UFO)\nSource: Catalyst Labs / Shutterstock.comFor investors seeking broader exposure to the space race, you can always choose an exchange-traded fund (ETF) similar to Procure Space ETF (NASDAQ:UFO). While you have to love the ETF’s ticker symbol, Procure Space gives you more than just rocket stocks. It also includes satellite stocks like EchoStar (NASDAQ:SATS), its largest holding; broadband mobile network provider AST SpaceMobile (NASDAQ:ASTS); and Garmin (NASDAQ:GRMN), the consumer products maker of wearables, activity trackers, and other high-tech outdoor gear, including for aviation.\nProcure Space sports a reasonable 0.75% expense ratio and currently trades under $16.50 per share. That’s down 20% from its 52-week high but 9% above its lows. It will rise and fall as its component members gain altitude or tip over on the lunar surface (Intuitive Machines, however, is not one of its holdings; Rocket Lab is).\nBy buying an ETF, you gain access to many more stocks than you likely could afford and do so at a lower cost. For around $16, you own three dozen space stocks, or you can pay $164 for a single share of Garmin.\nOn the date of publication, Rich Duprey did not hold (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 InvestorPlace.com Publishing Guidelines.\nRich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L’Express, and numerous other news outlets.Industrial, SpaceGrowth Stocks\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSubmit\n\n\n\n\n\n\n\nArticle printed from InvestorPlace Media, https://investorplace.com/2024/06/if-you-can-only-buy-one-space-stock-now-it-better-be-one-of-these-3-names/.\n©2024 InvestorPlace Media, LLC","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2441074571"}