Are These The Top Space Stocks To Buy Right Now Amid Virgin Galactic’s Successful Trip To Space?

Space stocks have been trending in the stock market lately. This is due to the fact that the space industry is undergoing a widespread transformation as we speak. In the past, most of the attention was on military contracts or communication satellites. However, commercial interest in space travel has now been gaining traction. Have you dreamt of traveling to space and experiencing zero gravity? Believe it or not, this could all come to reality sooner than you think. Well, for some people at least. We have billionaires such as’s (NASDAQ: AMZN) Jeff Bezos announced that he and his brother Mark will fly on a crewed space flight from his rocket company Blue Origin later this month.  

On the other hand, we also have companies launching satellites into orbit and promising high-speed broadband internet. Starlink, currently operated by space exploration firm SpaceX, allows people to connect to the internet via satellite dish. In June, SpaceX claimed that there are approximately 1,800 satellites delivered into orbit. For those unaware, this is another one of Tesla’s (NASDAQ: TSLA) CEO, Elon Musk’s project. So, we can see that there is some untapped potential within this space. With that in mind, do you have a list of some of the top space stocks for your watchlist in the stock market today?

Best Space Stocks To Watch This Week

Virgin Galactic Holdings Inc

Firstly, we have the trending aerospace company, Virgin Galactic. Put simply, the company focuses on developing a spaceflight system to offer space travel to customers. Customers will hopefully be able to experience several minutes of weightlessness and views of Earth from space. On July 11, Virgin Galactic successfully completed its first fully crewed flight. It was the 22nd test flight of VSS Unity and this time it included the company’s founder, Sir Richard Branson. 

This historical moment for the company was witnessed by audiences around the world. Hence, giving a glimpse of the journey Virgin Galactic’s Future Astronauts can expect when it launches commercial service following the completion of its test flight program. SPCE stock has been up by more than 170% over the past year.

Late in June, Virgin Galactic announced that the Federal Aviation Administration (FAA) updated the company’s existing commercial space transportation operator license to allow the spaceline to bring customers to space. This marks the first time the FAA has licensed a spaceline to fly customers. Thus, showing the validation of Virgin Galactic’s methodical testing program which has met the criteria required by the FAA. So, with all these exciting developments surrounding the company, would you consider adding SPCE stock to your watchlist? 

space stocks (SPCE stock)
Source: TD Ameritrade TOS

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Maxar Technologies Inc 

Following that, we have Maxar Technologies. Essentially, the company operates in two segments, Earth Intelligence and Space Infrastructure. The Earth Intelligence segment offers earth imagery products.  It serves the U.S. and other international government agencies, such as defense and intelligence agencies, as well as commercial customers in various markets. Meanwhile, the Space Infrastructure segment provides space-based infrastructure, robotics, sub-systems, and information solutions.

In June, the company announced that it delivered 3D data products and high-resolution satellite imagery to the Australian Department of Defence under recent multi-million-dollar contracts. This includes a 3D Surface Model which provides a high-fidelity, positionally accurate and photorealistic view of terrain and surface features and textures. These latest contracts illustrate the increased adoption of commercial satellite imagery and derived data products for critical national defense and intelligence missions. 

Maxar is not resting on its laurels anytime soon. On Thursday, it acquired a contract for WorldView Legion satellite constellation capacity. This multi-year, $35 million contract extends the customer’s ability to directly task and download 30 cm-class satellite imagery to its ground station from Maxar’s current constellation under the Direct Access Program. With this, it would enhance situational awareness and decision-making for the customer’s critical government missions. With all these in mind, would MAXR stock be a top space stock to watch? 

top space stocks (MAXR Stock)
Source: TD Ameritrade TOS

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Lockheed Martin Corporation  

Lockheed Martin Corporation is a security and aerospace company. The company engages in the research, design, development, integration, and sustainment of technology systems, products, and services worldwide. It operates through four segments, Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. LMT stock has been up by 11% year-to-date. 

Last month, the company’s next-generation GPS III Space Vehicle 05 satellite propelled itself into orbit 12,500 miles above Earth. This marks another step in supporting the U.S. Space Force’s GPS satellite constellation modernization efforts. With it, it would provide the U.S. military forces a more secure, harder-to-jam, and spoof GPS signal. Furthermore, it appears that its next three satellites, GPS III SV06, SV07, and SV08, are already complete and just waiting for a launch date.

It is also noteworthy that NASA has selected the VERITAS and DAVINCI+ missions for its Discovery Program. Lockheed will be responsible for the design, build, and operation of both spacecraft which will be bound for Venus. It appears that Lockheed would be well-positioned moving forward as space exploration is increasingly important. So, would you consider investing in LMT stock? 

best space stocks (LMT stock)
Source: TD Ameritrade TOS

[Read More] Up And Coming Stocks To Buy Right Now? 3 Retail Stocks In Focus

Astra Space Inc 

Lastly, we have the up-and-coming space launch company, Astra. The company began trading publicly on Nasdaq on July 1. Astra’s mission is to improve life on Earth from Space, by creating a healthier and more connected planet. Astra’s endeavors in space currently involve customer payload deliveries such as satellites into low-Earth orbit. The company currently has over 50 launches under contract.

Last week, the company CEO, Chris Kemp had an interview with Yahoo! Finance. In it, he made a bold claim where he said, “I think that the next billionaires will be made in space.” Well, this isn’t too far-fetched if we look at how space tourism and other activities relating to space are gaining traction. The company also plays a role in laying the foundation for the future space economy with its aim of lowering the cost of space launches. 

Astra uses inexpensive materials, inexpensive manufacturing, and fabrication techniques which indirectly leads to reduced labor. Also, it is completely autonomous. This means that the rocket will operate with very few people both in the field and also in mission control. So, do you think these are feasible claims? If you share the same sentiment as the company’s CEO, would ASTR stock be a buy at this point?

best space stocks to buy (ASTR stock)
Source: TD Ameritrade TOS

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