Investors rotating into cheaper stocks with more upside should ultimately benefit Rocket Lab and AST SpaceMobile. Both have already suffered major drawdowns. x.com 

Space stocks could regain high-beta flows as SpaceX lockups end and a probable late-November Anthropic IPO threatens AI stocks, much as SpaceX's IPO hurt space names. Hedge funds are overexposed to the Magnificent Seven and underexposed or max short low-quality high beta; falling rates and toppy oil could make the rotation painful for them through 2027. AST SpaceMobile could benefit as intermittent service triggers agreements and Blue Origin possibly returns to the pad in six weeks. x.com  x.com 

Rocket Lab and AST SpaceMobile are not buys because their sales multiples are too high, even after the selloff. Rocket Lab trades at 30x sales after a 14% drawdown, while AST SpaceMobile trades at 138x sales. x.com 

SpaceX's competitive threat makes AST SpaceMobile less attractive at these levels than SpaceX and Rocket Lab. AST SpaceMobile's weekly chart shows a downtrend and strong outflows, though the stock is near marked support. x.com 

SpaceX's confidential filing for the largest IPO in history should force fund managers who ignored space to buy in, making this exactly the wrong time to short the sector. SpaceX is seeking a $75 billion raise at a $1.75 trillion valuation, with Polymarket putting a June listing at 60%. Yet AST SpaceMobile and Rocket Lab sit 30% below their highs, Redwire 35% and Planet Labs 15%. That fund flow has to go somewhere. x.com 

Rocket Lab's $3B at-the-market offering shows it needs investor cash because it has no real earnings or path to profitability, and it should have raised $10-15B while the window lasts. Selling stock at such a high valuation is the only way to sustain the next 18-24 months, and the coming SpaceX IPO will most likely be the sell event for the entire space sector. x.com  x.com 

A stronger SpaceX could lift the wider space-stock basket, including AST SpaceMobile, Rocket Lab, Redwire, Planet Labs, Intuitive Machines, Firefly Aerospace and Voyager Technologies. Per DeItaone, JPMorgan raised its SpaceX price target from $240 to $500 while maintaining Overweight. The seven space stocks rose alongside SpaceX after hours. Their initial post-IPO selloff was followed by macro-driven weakness, not further weakness caused by SpaceX. x.com  x.com  x.com 

Good SpaceX earnings could help Rocket Lab lead the new-space sector higher with a rally as violent as its capitulation. Rocket Lab is the sector leader outside SpaceX; its RSI is extremely oversold, the lower Bollinger band is overstretched and MACD's negative divergence is subsiding. Three upside gaps lie at $55.25-59.18, $64.22-65.71 and $73.11-74.76. The highest should fill before year-end, though the exact date is hard to predict. x.com  x.com 

AST SpaceMobile, Rocket Lab and other space stocks face being dragged toward zero by SpaceX's stock drop. With SpaceX valued above $1 trillion, it can buy them out with all-equity offers, the mega-cap way, and that is already happening. x.com 

Listed space stocks such as Satellogic, BlackSky, Voyager, Redwire, Intuitive Machines, Planet Labs, AST SpaceMobile and Rocket Lab are the plays ahead of the SpaceX IPO. AST SpaceMobile and Rocket Lab are favorites and still look healthy on the charts despite recent pullbacks. @sunxliao notes the group ranges from about $0.7B to $39B in market cap versus a roughly $1.75 trillion SpaceX IPO valuation, a gap he expects to deliver big returns in coming months. x.com