Wed. Dec 8th, 2021

© Reuters 2 Space Stocks: Wall Street Predicts Rising More Than 50%

The commercial space sector is advancing rapidly, driven by significant investments in research and development. Given the solid outlook for the industry, Wall Street analysts expect Virgin Galactic (SPCE) and Maxar (MAXR) space stocks to increase more than 50% in the short term. So keep reading to find out why these stocks are worth it: the space industry is achieving continuous growth, bolstered by private investment and new technological innovations. According to the Space Report for the second quarter of 2021, the global space economy grew to $ 447 billion in 2020, up 55% from a decade ago.

The commercial segment is the most advanced segment of the space sector and is expected to drive the future of the industry. Despite the pandemic recessions, commercial space activity grew 6.6% to nearly $ 357 billion in 2020, accounting for about 80% of the total space economy.

With the support of government funding and increased private investment, the space industry is expected to continue to grow. Thus, Wall Street analysts predict that the space stocks of Virgin Galactic Holdings, Inc. (NYSE 🙂 and Maxar Technologies Inc. (NYSE 🙂 will increase by more than 50%.

Keep reading at StockNews

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