AST SpaceMobile Jumps 7%, Rocket Lab Climbs 6%, Planet Labs Rises 4%: Space Stocks Resume Their Climb

David MoadelFri, May 22, 2026 at 5:55 PM UTC

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AST SpaceMobile (ASTS) stock is on the move, backed by nearly 60 global mobile network operator partners covering 3 billion subscribers and FY2026 revenue guidance of $150M-$200M.

Rocket Lab (RKLB) posted Q1 2026 revenue of $200.35M, up 64% year-over-year, with a record $2.2B backlog and Neutron’s debut expected later in 2026.

Planet Labs (PL) stock is rising rapidly, based in part on the company’s remaining performance obligations jumping 361% to $672.47M; this is driven by defense and intelligence contracts with the NGA, NRO, NASA, the U.S. Navy, and NATO.

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Space stocks are back in rally mode at midday Friday, with the sector's three highest-profile pure plays moving sharply higher in unison. AST SpaceMobile (NASDAQ:ASTS) stock is up 7%, Rocket Lab (NASDAQ:RKLB) shares are climbing 6%, and Planet Labs (NYSE:PL) stock has added 4%.

The coordinated bid follows a mid-week wobble in commercial space names. With no single catalyst tying the three companies together today, the move looks like sentiment-driven sector positioning after a brief pause. The space trade has been one of the most explosive themes in public markets over the past year.

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Three Different Bets on the Same Theme

ASTS stock is the direct-to-smartphone satellite connectivity story. AST SpaceMobile has built a network of nearly 60 global mobile network operator partners covering more than 3 billion subscribers, and the company reaffirmed FY2026 revenue guidance of $150 million to $200 million. AST SpaceMobile stock has gained 324% over the past year as investors bet on a new connectivity category.

Rocket Lab is the launch and space systems play, with Neutron as the major upcoming catalyst. The company's Q1 2026 revenue came in at $200.35 million, up 64% year over year, and Rocket Lab exited the quarter with a record $2.2 billion backlog. RKLB stock is up 49% over the past month as Neutron's debut later this year approaches.

Planet Labs is the AI-driven Earth observation angle. The company's remaining performance obligations surged 361% year over year to $672.47 million, with defense and intelligence wins from the NGA, NRO, NASA, the U.S. Navy, and NATO. Planet Labs stock has rallied 1,103% over the past year, easily the most eye-catching figure in the group.

Why the Space Trade Keeps Working

The structural drivers behind the space trade haven't changed. Defense and national security demand for launch capacity, persistent surveillance, and resilient connectivity is driving real, contracted revenue across all three names. Rocket Lab was selected for the Department of War's Space Based Interceptor program under Golden Dome for America, partnering with Raytheon.

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AI-enabled Earth observation is becoming a monetizable data product, not a science project. Planet Labs CEO Will Marshall framed it directly, asserting, "We're seeing strong traction with our AI-enabled global monitoring solutions, demonstrated by our recent award under the NGA's Luno B program and expansion with NATO." Planet Labs also announced a partnership with Google to explore scaled AI computing in space, with prototype satellites targeted for 2027.

Moreover, launch economics are shifting. With reusable heavy-lift capacity expected to reduce the cost to reach orbit by 99% or more relative to the historical average launch cost per kilogram of $18,500, the addressable market for satellite operators and constellation builders expands meaningfully. That tailwind helps every name in this basket.

The Bear Case Is Still Real

Investors shouldn't gloss over the risks. AST SpaceMobile posted a Q1 2026 net loss of $191 million, with revenue missing consensus by 60%. Meanwhile, Rocket Lab is still GAAP unprofitable and has been raising capital through ATM offerings to fund Neutron development.

Valuations across the group are stretched even after periodic pullbacks. Reddit sentiment for RKLB stock has run very bullish, peaking near 88 on May 21, which is often a contrarian flag. Prudent investors should size their positions accordingly and recognize these remain speculative names tied to long execution roadmaps.

What to Watch

The next anticipated catalyst is the BlueBird 8, 9, and 10 launch on Falcon 9 in mid-June, which will move AST SpaceMobile closer to its target of approximately 45 satellites in orbit by year-end 2026. Beyond that, keep an eye on Neutron's debut later in 2026 at Rocket Lab and Planet Labs' next earnings print.

Today's coordinated bid suggests that the space stock trade is alive and well. Whether the gains hold into the close could indicate whether this is a real re-rating or a quick reflex bounce.

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