Space Stocks Get Torched: Short Seller Calls Them 'Sci-Fi Wishes'

Benzinga06-13

The firm’s central thesis: the sector’s entire premium rests on one trade — buy public space proxies before SpaceX goes public via its SPCX listing, then ride the re-rating. Fugazi argues that trade ...

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(NYSE:SPCE): Fugazi points out that analyst consensus for Virgin Galactic's Q2 revenue stands at $244,800 — a figure the firm notes was revised downward 86.67% in just three months. \nThe report highlights that Virgin Galactic has guided Q4 commercial flight commencement for four consecutive years, and that the vehicle has completed one unpowered glide test.\nSidus Space, Inc. (NASDAQ:SIDU): Fugazi notes that Sidus Space generates only about $3 million in annual revenue, just raised $100 million and, in the firm’s view, will need to raise more.\nThe firm points out that cash on hand as of March 31, 2026 stood at $4 million against an accumulated deficit of $75.6 million, with zero revenue and zero space operations. A going concern qualification is already on file.\nAdding to the sector's woes, investors \"sold-the-news\" as SpaceX shares opened for trading at $150 per share, according to Benzinga Pro data. \nTraders booked profits on the other space stocks that had run up sharply ahead of the SpaceX IPO. \nSPCX Stock Price Activity: SpaceX shares were up 25.77% at $169.79 at the time of publication Friday, according to Benzinga Pro. \nPhoto: Shutterstock\nThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nTo add Benzinga News as your preferred source on Google, click here.","kind":"news","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,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"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,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.44.0","shortVersion":"4.44.0","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/2643211554","isCrawlerRequest":true}