Chart of the Day: Space Stocks Are Heating Up. We Have One in the Bullpen.
One thing that has been hot late is outer space. Look no further than the pending IPO of SpaceX, something that is going to break records in about a week (scheduled). What is fascinating about the sector is how so many new companies are coming to market and quickly developing space exploration plans, trying to be the first ones out, the first ones to win government contracts.
It reminds us of the race that is happening in AI, and more distant the rise of the internet names during the dot-com period (30 yrs ago). The questions about revenue and profitability are important here, so you need to be careful which company and direction you are headed, as it is still a land grab.
We placed Starfighters Space ($FJET) in the Bullpen last month, and are keeping our eye on the name. The company was spun off last December from Starfighters, boasting one of the largest commercial fleets of F-104 starfighters, airborne first stage to send rockets into space.
The chart is not giving us a good read bullish or bearish, but we continue to watch and see how it moves with the SpaceX excitement still building. Money flow is bullish, though, as is the MACD; stochastics are starting to pick up as well.
Perhaps a move into the $10-12 range might have us nibbling for the Portfolio, but for now we’ll just watch it.
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At the time of publication, TheStreet Pro Portfolio had no position in FJET.
