2 No-Brainer Space Stocks to Buy With $500 Right Now

Key Points

• The space economy is poised for significant growth, driven by increased investments from both the government and the private sector.

• One key player is developing versatile launch vehicles and comprehensive hardware and software solutions for missions in orbit and beyond.

• Companies in aerospace and satellite technology are likely to benefit from substantial federal spending as the U.S. advances its space initiatives.

• These 10 stocks could mint the next wave of millionaires ›

The space economy is set to boom as renewed interest from governments and the private sector drives investment into the next frontier. The push will open the door to significant commercial opportunities as lunar exploration helps drive scientific advancements.

The United States is committed to returning to the moon through NASA's ambitious Artemis program, which aims to land American astronauts on the lunar surface by 2027. Federal spending on space is expected to increase dramatically, supporting broader space-related projects.

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If you have $500 in cash and you're seeking to capitalize on the long-term growth trajectory for the space economy, here are two no-brainer space stocks to buy today.

Image source: Getty Images.

Rocket Lab USA

Rocket Lab USA (NASDAQ: RKLB) provides launch services and space systems for aerospace customers. The company is the second-most used launch company in the United States, trailing SpaceX, which holds a significant lead over it.

One of SpaceX's advantages is that it has a significantly larger launch vehicle. At the moment, Rocket Lab specializes in delivering smaller payloads to orbit with its Electron launch vehicle. Looking forward, it is developing and testing its Neutron rocket, which will enable it to carry significantly larger payloads. Its launch complex in Virginia is now ready for its grand opening, with the first rocket parts already en route. The company expects to launch Neutron later this year.

The Neutron rocket launch is crucial because it will allow Rocket Lab to earn more revenue per launch at a higher margin. However, investors shouldn't overlook its space systems business, which is a primary source of revenue for Rocket Lab.

In the last year, 70% of Rocket Lab's gross profit came from its space systems segment. Here, it designs, manufactures, and sells hardware and software solutions for missions in orbit and beyond. Last year, this segment brought in revenue of $310.8 million and gross profit of $81.6 million, nearly double the amount from the prior year. In the first half of this year, space systems' gross profit was $60.2 million, a 71% increase, primarily due to satellite manufacturing growth. The space systems business also accounts for 59% of Rocket Lab's nearly $1 billion backlog.

Its robust space systems business and growing launch services business are part of Rocket Lab's strategic vision to be a complete end-to-end space company. It aims to provide comprehensive solutions, spanning from spacecraft design and manufacturing to launch services and on-orbit operations. This vertical integration enables the company to manage and control nearly every aspect of design, manufacturing, and launch operations, allowing for rapid prototyping, streamlined production, cost control, and reduced schedule risk.

Rocket Lab is carving out a place in the space economy. Its larger launch vehicle, set to debut this year, will boost its earnings potential. Meanwhile, its space systems business continues to see robust demand. Given its role in the growing space economy, Rocket Lab USA looks like a solid buy today.

AST SpaceMobile

AST SpaceMobile (NASDAQ: ASTS) is developing a space-based global cellular-broadband network that directly connects to everyday smartphones. With billions of people still lacking reliable mobile or cellular broadband coverage, AST SpaceMobile's direct-to-phone service could unlock a significant market opportunity.

Last year was crucial as AST SpaceMobile secured several strategic partnerships with leading global telecommunications companies to advance its space-based cellular network. Key agreements include commercial deals with AT&T and Verizon, as well as collaborations with Vodafone, Rakuten, and Alphabet's Google.

These agreements illustrate AST SpaceMobile's strategy to partner with mobile network operators (MNOs) to offer its space-based cellular broadband service, which allows those MNOs to expand their coverage without significant incremental capital investments.

AST needs to deploy approximately 45 to 60 of its BlueBird satellites to achieve continuous service coverage in key markets across the U.S., Europe, and Japan. Management believes it is funded enough to cover operating expenses and capital expenditures to design, manufacture, launch, and operate a constellation of 25 BlueBird satellites, which would be enough to help it turn free-cash-flow-positive.

Management believes the company has reached an "inflection point" with accelerated network scaling and the commencement of revenue generation. It aims to provide intermittent nationwide cellular broadband service in the U.S. by the end of 2025. Deutsche Bank analysts anticipate AST SpaceMobile could turn cash-flow positive by 2027. Clear Street also expects a "breakout year" in 2028 with significant revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $1.3 billion.

Investors will need to be patient with AST SpaceMobile as it expands its network. It is best suited for aggressive investors with a long-term perspective. Given its secured partnerships and solid earnings upside over the next five years, AST SpaceMobile is another solid stock to invest in, in the burgeoning space economy.

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Courtney Carlsen has positions in Alphabet and Rocket Lab. The Motley Fool has positions in and recommends Alphabet and Rocket Lab. The Motley Fool recommends Verizon Communications and Vodafone Group Public. The Motley Fool has a disclosure policy.