3 Space Stocks to Buy Before the 2024 Total Solar Eclipse | Markets

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The upcoming total eclipse is an opportunity to begin exploring space stocks amid renewed interest.

All eyes are on the upcoming eclipse, with cities reporting record hotel and campground reservations while others preemptively declare states of emergency to deal with high traffic as sightseers flood local areas. It’s also sparking renewed interest in space stocks to buy, a sector that’s slowly regaining ground lost over the past few years.

Space stocks, after their meteoric rise in 2020, have since come back down to earth, with many companies falling from their previous peaks. In 2020, as a group, space stocks achieved a 64% return, but 2022 saw a significant downturn with a 12% loss, albeit still outperforming the S&P 500. While the outcome for 2023 remains undecided, space stocks are likely to end the year relatively flat.

However, space remains an attractive long-term investment avenue for those who can sidestep exaggerated excitement and unrealistic expectations. According to Barron’s, the space industry is on track to grow into a $1 trillion market, with some even more optimistic predictions estimating that operational space activities, including missions between Earth and the moon, could soar to $10 trillion by 2050.

Despite the variability in financial projections, space stocks hold a promising outlook. Three specific space stocks rise above the rest, showcasing strong long-term potential that is firmly rooted in present-day realities and exemplifying the space industry’s best prospects.

Rocket Lab USA (RKLB)

Source: T. Schneider / Shutterstock.com

Rocket Lab USA (NASDAQ:RKLB)

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