2 Space Stocks to Buy Before the SpaceX IPO on June 12
Key Points
According to PwC, the space economy could potentially reach $2 trillion by 2040.
AST SpaceMobile aims to provide direct cell phone services from space and has ambitious launch plans.
Intuitive Machines achieved the first U.S. lunar landing since 1972.
- 10 stocks we like better than AST SpaceMobile ›
SpaceX's initial public offering (IPO) might be the most anticipated this century and will likely be the largest IPO on record when it happens on June 12. The U.S. is throwing its support behind space exploration and advancement for scientific and national security purposes, and the consulting firm PwC projects the space economy could grow to $2 trillion by 2040.
With the spotlight on the growing space economy, here are two intriguing space stocks to scoop up ahead of SpaceX's IPO.
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AST SpaceMobile aims to provide continuous cellphone service from space
AST SpaceMobile (NASDAQ: ASTS) provides direct-to-cellular broadband to cellphones and competes with SpaceX's highly successful Starlink product. The company aims to provide full cellphone service, including call, text, data, and live video streaming. This is made possible by its Block 2 BlueBird satellites, which are the largest commercial phased-array antennas ever deployed in low Earth orbit, measuring up to 2,400 square feet.
In recent years, the company has entered into agreements with top carriers, including AT&T, Verizon, and Vodafone. To provide continuous service to its early, high-priority target markets, AST entered 2026 planning to deploy 45 to 60 satellites before the end of the year.
Last month, it faced a setback when Blue Origin's New Glenn launch vehicle deployed its satellite too low in orbit, rendering it unusable. AST has de-orbited this satellite and, more importantly, has had to rely on other launch partners, such as SpaceX, to meet its launch goals for the year.
AST plans to launch its next batch of three satellites sometime in June, and management still believes it can achieve its goal of 45 satellites by the end of this year, with launches occurring every one to two months and supported by contracts with multiple launch providers.
With 5.8 million global mobile subscribers and government contracts, including a $30 million contract with the Space Development Agency (SDA) for tactical broadband, AST SpaceMobile is a force in the making.
Intuitive Machines landed on the moon and has secured large government contracts
Intuitive Machines (NASDAQ: LUNR) made headlines a couple of years ago when it achieved the first U.S. lunar landing since the Apollo 17 mission in 1972. The company provides aerospace and space infrastructure, including robotic landers for scientific exploration, ground stations and satellites for communications, and space systems and related components.
What makes Intuitive Machines compelling is its role as a vertically integrated space contractor for the U.S. government. Earlier this year, it was awarded $429 million in new contracts, driven by the SDA's efforts to get a 72-satellite network into orbit to detect, track, and warn against advanced missile threats. It also received a $180 million commercial lunar payload services (CLPS) contract from NASA.
The company tripled its revenue in the first quarter to $186.7 million and ended the quarter with a backlog of over $1.1 billion, a staggering $842 million increase from the end of last year, and expects about 60% of this backlog to be converted into revenue this year. With massive tailwinds from government contracts, Intuitive Machine is another intriguing space stock for investors today.
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Courtney Carlsen has positions in Intuitive Machines. The Motley Fool has positions in and recommends AST SpaceMobile and Intuitive Machines. The Motley Fool recommends Verizon Communications and Vodafone Group Public. The Motley Fool has a disclosure policy.
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