Intuitive Machines stock surged nearly 73% in May 2026 due to multiple positive catalysts: winning a Space Force contract for space domain awareness capabilities, nearly tripling year-over-year revenue in Q1 earnings, acquiring Goonhilly Earth Station and Goonhilly USA for $49 million to expand ground station capacity, and benefiting from broader investor enthusiasm in space stocks following SpaceX's IPO filing.

SpaceX is set to go public on Nasdaq under ticker SPCX with a valuation of $1.75-2 trillion, potentially establishing a public market reference point for the space economy. The IPO is expected to benefit several publicly traded space companies with operational or strategic ties to SpaceX, including Rocket Lab, Alphabet (SpaceX investor), Redwire, Intuitive Machines, and the Destiny Tech100 fund, though valuations have already surged significantly ahead of the listing.

As the space industry experiences growth driven by SpaceX's anticipated IPO, three lesser-known space stocks offer attractive investment opportunities. Intuitive Machines focuses on lunar exploration with a $1.1B backlog and record Q1 revenue. Redwire provides space infrastructure with a $498M backlog and 190% year-to-date gains. Spire Global operates earth-observation satellites with solid financials and 145% year-to-date gains.

Intuitive Machines stock fell 7.3% following a Blue Origin New Glenn rocket explosion at Cape Canaveral. While Intuitive doesn't use Blue Origin for launches and competes with them in the lunar market, the incident could reduce launch capacity industry-wide, potentially raising costs for Intuitive's launch services. The drop also reflects concerns about the stock's 300% year-over-year surge being priced for perfection in the risky space sector.

Space-focused ETFs are experiencing massive inflows as investors seek exposure to the commercial space economy ahead of SpaceX's anticipated IPO. The Procure Space ETF (UFO) has surpassed $1 billion in assets under management, while the Tema Space Innovators ETF (NASA) reached $1.27 billion just 37 days after launch. Investors are using these ETFs and publicly traded space companies as proxy trades for SpaceX, with particular enthusiasm around satellite broadband and lunar infrastructure opportunities.

Intuitive Machines (LUNR) stock surged despite losing a NASA Lunar Terrain Vehicle contract worth $439 million. Cantor Fitzgerald and Roth Capital remain bullish, with Roth raising its price target to $75, citing the broader $4.6 billion LTV program opportunity and other potential lunar contracts. The stock gained over 10% as analysts believe significant contract awards remain available.

Space stocks rallied on Tuesday as investors positioned ahead of NASA's Moon Base press conference and digested SpaceX's recent S-1 IPO filing. The momentum is being driven by expectations of government-backed space spending, lunar infrastructure contracts, and renewed investor appetite for space sector names. Key beneficiaries include lunar lander companies, satellite imaging firms, and space infrastructure providers.

Intuitive Machines stock surged 17.2% after Cantor Fitzgerald raised its price target by 65% to $43 per share. The rally is driven by expectations of a potential $4.6 billion NASA Lunar Terrain Vehicle contract award this week, combined with the company's promise to reach $1 billion in revenue and profitability this year. Additional catalysts include an upcoming moon landing and potential Space Force contracts worth $1.8-6.2 billion over 10 years.

U.S. stock futures rose on Tuesday following Memorial Day, with the S&P 500 and Nasdaq 100 gaining 0.52% and 0.73% respectively. Despite U.S. defensive strikes on Iranian missile sites, markets remained resilient as oil prices fell and Iran negotiations progressed. Key movers included Elbit Systems jumping 8.26% on a $1.4B military contract, Intuitive Machines soaring 10.27% on a NASA lunar contract, and SCYNEXIS plunging 16.38% after announcing a reverse stock split.

Space stocks and ETFs are experiencing significant gains in 2026 as investor enthusiasm for the sector surges ahead of SpaceX's anticipated IPO in June. Multiple space-focused ETFs have launched recently and posted sharp gains, with individual space stocks averaging 81.8% year-to-date returns. SpaceX is expected to list on Nasdaq as early as June 12 under ticker SPCX, potentially raising over $25 billion at a valuation exceeding $1 trillion.

Starfighters Space and Mu-G Technologies announced a partnership to restore commercial microgravity flight capability to North America. The companies will co-locate at Starfighters' Midland, Texas facility to modify and certify a Dassault Falcon 50 for parabolic flights, while jointly responding to a NASA Armstrong Flight Research Center Request for Information. This positions both companies to address a gap in domestic commercial microgravity research services.

President Trump's Golden Dome missile defense system, initially estimated at $151 billion, has been projected by the Congressional Budget Office to cost $1.2 trillion over 20 years. The massive expense stems primarily from the need to replace 1,600 satellite-based interceptor missiles annually due to their low-orbit decay. The author argues the project is likely too expensive and impractical to complete, predicting eventual cancellation despite billions already spent.