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☆ A handful of space companies are running out of cash and time. Here are three at risk
▼ + stars: | 2024-01-27 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

A flurry of about a dozen space companies went public over the last few years. SidusSidus Space is a little-known space company that went the traditional IPO route in late 2021 and began trading on the Nasdaq at a near $200 million valuation. But it had less than $2 million in cash at the end of September, trading at a near $9 million valuation according to FactSet. Elsewhere in spaceA fourth space company in a potentially precarious spot is satellite imagery company Satellogic . Overall, investment in the space sector bounced back in 2023, with companies bringing in $12.5 billion in investment last year.

Persons: Here's, Momentus, there's, Sidus, Satellogic, hasn't Organizations: Astra, Astra Astra, Nasdaq, CNBC, Terran

☆ Investing in Space: Pentagon's satellite constellation awards near $10 billion
▼ + stars: | 2024-01-18 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +11 min

Now we're pushing $10 billion in awards, to build more than 400 satellites, with seven companies in the mix. York Space has been tapped to make more satellites than anyone but Northrop Grumman, to the tune of $1.3 billion. – The Wall Street Journal / Deere Hyperspectral satellite imagery company Pixxel opens Bengaluru facility, a 30,000-square-foot facility in India for satellite manufacturing. – KeyBancBoldly goingKurt Vogel named as NASA associate administrator for the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency. – NASAfor the agency's space technology directorate, effective immediately, previously having been the director of space architectures at the agency.

Persons: Yasin Ozturk, CNBC's Michael Sheetz, – Northrop, Lockheed Martin, L3Harris, Northrop Grumman, you've, Momentus, John Plumb, –, Artemis, – SpacePolicyOnline, Tom Mueller's, Redwire, KeyBanc, Kurt Vogel, Chiara Pedersoli, Marco Fuchs, – OHB, – OHB Frank Di Pentino Organizations: SpaceX, . Space Force, Cape Canaveral Space Force, Anadolu Agency, Getty, Space Force, Space Development Agency, – Northrop Grumman, Lockheed, York, Space, Lab, Sierra Space, CNBC, CNBC NASA, Boeing, NASA, NASA ESA, Science, Technology, Industry, ISS, – NASA SpaceX, Deere, Street, Deere Deere, KKR Locations: Cape, Florida, United States, U.S, Brazil, Bengaluru, India

☆ Space company Momentus, once valued at more than $1 billion, is running dangerously low on money
▼ + stars: | 2024-01-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Space company Momentus warned shareholders in a securities filing on Friday that the company is running out of money and does not have a financial lifeline. Momentus, once valued at more than $1 billion before going public via a special purpose acquisition company in 2021, abandoned plans for its next mission, which was to fly satellite customers in March. Momentus already laid off about 20% of its workforce at the end of December to reduce costs. Shares of Momentus fell more than 30% during trading on Friday, with its market value sliding to nearly $5 million. Momentus was among a dozen or so space companies that debuted during the SPAC frenzy.

Persons: Momentus Organizations: Nasdaq, SEC, CNBC PRO

☆ What we'd like to see from 3 economic readings and 2 earnings reports next week
▼ + stars: | 2023-11-11 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major averages advanced again this week as earnings results came in largely better than expected, interest rates stabilized and oil prices dropped below $80 a barrel. Looking ahead, we'll get a couple more earnings results and some key inflationary data to chew on. In this past week, we bought 150 shares of DuPont (DD) and added 75 shares of Wynn Resorts (WYNN). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Wynn Resort's, WYNN, we'll, That's, —, we're, it's, PANW, Tyson, Henry Schein, Spero, Sanara, Sara Lee Corp, JD.com, Woodward, Jim Cramer's, Jim Cramer, Jim, Mario Anzuoni Organizations: Nasdaq, Dow Jones, Coterra Energy, Emerson, Disney, PPI, TJX, Palo Alto Networks, DuPont, Wynn Resorts, WYNN, Tyson Foods, TSN, Tower Semiconductor, Partners, Genius Sports, Spero Therapeutics, Star Bulk Carriers Corp, Beauty Health, Asure, Gladstone Capital Corp, TeraWulf Inc, Harrow Health, Afya, Sea, Paysafe Group Holdings, Solar Inc, Aramark Holdings Corp, Lending, Holding, BioXcel Therapeutics, IHS Inc, Rewalk Robotics, Acurx Pharmaceuticals, Energizer Holdings, Power Solutions, Rekor Systems, Wine Estates, Momentus Inc, SIGMA Lithium Corporation, AlTi, QuickLogic Corporation, Arcturus Therapeutics, Dada Nexus, Solutions, Target Corp, Parts, ZIM Integrated Shipping Services, Alto Networks, Cisco Systems, Chemical & Mining Co, PennantPark Investment Corp, Copa Holdings S.A, Walmart, Arcos Dorados Holdings, ARCO, NICE, Body, Warner Music Group Corp, Ross Stores, Homes, Dolby Laboratories Inc, American Software, ESCO Technologies, ZTO, International, BJ's Wholesale, Jim Cramer's Charitable, CNBC, Maxx Locations: Macau, Chile, Cayman, Pasadena , California

☆ A short seller with a 95% win ratio shares 5 stocks he recently traded and why his strategy of finding cash-strapped companies to bet against is working better than ever
▼ + stars: | 2023-11-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

That year, he had also taken up an interest in stock trading. Increased accuracy on VWAPThe volume-weighted average price (VWAP) is a chart line that tracks the average price traders paid for a stock. If a stock's price is too far above the VWAP, it signals that it's overbought, and vice versa. But as more short sellers chase the stock's price down, it can get overcrowded, he noted. Pop Culture Group (CPOP) stock's trading was halted on October 31 after the stock rallied quickly.

Persons: David Capablanca, Capablanca, TraderSync, David Olivares, Olivares, He's Organizations: University of California, pharma, Capablanca, Interactive, Traders, Reviva Pharmaceuticals Holdings, shorting, InMed Pharmaceuticals, Culture Locations: Los Angeles

☆ Investing in Space: A reality check on SPAC frenzy revenue projections
▼ + stars: | 2023-10-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +13 min

Overview: Forecast or fantasyWe're now at least two years on from when a slew of space companies went public during the SPAC frenzy, and, look, none of them look great. Now a bit further down the road, I want to look at a different financial metric: 2023 revenue projections. I ran an informal series for a while to mark when a space company announced it was going public. The rest of the pack isn't as on the mark: A few companies are roughly halfway to their earlier 2023 revenue projections, or performing even better. Spire forecast 2023 revenue of $227 million and is closing in on about $107 million.

Persons: Angela Weiss, CNBC's Michael Sheetz, it's, I'd, Here's, Derek Tournear, Ron Rosano, Trevor Beattie, Namira Salim, –, REx, Christopher Povak, Lisa Watson, Morgan, – Watson, Morgan Starliner, General, NASA Astrobotic, Andy Lapsa Organizations: New York Stock Exchange, AFP, Getty, Terran, Galactic Astra, CNBC, Pentagon, Space Development Agency, LinkedIn, Galactic, NASA, NASA NRO, Soyuz, – Reuters, Reuters SpaceX, FAA, Federal Aviation Administration, IAC, Lunar Research, SpaceX, Boeing NASA, Moonshots Capital, Lavrock Ventures, Veteran Fund, Mana Ventures, AIN Ventures, Capital Factory, Astra, – Bloomberg, ViaSat, Viasat Locations: Russian, Azerbaijan, Russia, Venezuela, South Africa, Florida, Washington, CNBC Los Angeles

☆ Investing in Space: Here are the rockets chasing to compete with SpaceX's Falcon 9
▼ + stars: | 2023-06-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +14 min

SpaceXCNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Overview: Chasing the FalconNo rocket has been better-described as a "workhorse" than SpaceX's Falcon 9. Aside from Blue Origin's New Glenn, the early theme is rockets that are close to the capability of Falcon 9 and less expensive. – CNBC, which the lawsuit says were used for NASA projects including the International Space Station and the Space Launch Systems rocket. – Firefly Aerospace: The rocket builder says the deal will bolster its launch, spacecraft, and lunar lander businesses.

Persons: CNBC's Michael Sheetz, Phil Smith, SpaceX's, Glenn, Smith, –, Smith doesn't, CNBC ULA, Tory Bruno, Jeff Bezos, ULA, – Read, Shepard, Bob Smith, Jim Free, Artemis, HawkEye, – Hydrosat, Leonardo DiCaprio, – Momentus, Westinghouse EchoStar's Hughes, – EchoStar, Iris Lan, Sumara Thompson, King, Lan, – NASA Celeste Ford, Ford, – SpiderOak Melissa Quinn, Quinn Organizations: SpaceX CNBC's, SpaceX, Falcon, Boeing, NASA, CNBC, CNBC Department of Defense, Ukraine, Starlink, Pentagon, –, Space Station, Systems, CNBC SpaceX, Cargo, International Space, FAA, Intelsat, Japan Airlines, Embraer, – Intelsat, Rocket, ONE, Washington, Spaceflight, Aerospace, Aerospace Spacecraft, York, MaC Venture Capital, Broom Ventures, Veto, TechCrunch Viasat, Air Force, Viasat, Westinghouse, U.S . Department of Justice, – NASA, Ford, Stellar Solutions Locations: Florida, China, Russia, Colorado, Ukrainian, Bellevue , Washington, Cortado, Cornwall

☆ Space companies Spire and Momentus get stock exchange delisting warnings
▼ + stars: | 2023-03-24 | by ( Michael Sheetz | ) www.cnbc.com time to read: +1 min

Spire Global at the New York Stock Exchange, August 17, 2021. A pair of space companies received delisting warnings on Friday, according to securities filings, as both ventures' stock prices stood below $1 a share. Small satellite builder and data specialist Spire Global received a notice from the New York Stock Exchange, while spacecraft delivery company Momentus received a notice from the Nasdaq. Momentus' stock closed at 63 cents a share, slipping below $1 a share on Feb. 7. The warnings come as fellow space company Astra seeks an extension from the Nasdaq to regain compliance after it received a delisting warning last year.

☆ Investing in Space: A year to forget for space stocks
▼ + stars: | 2022-12-29 | by ( Michael Sheetz | ) www.cnbc.com time to read: +2 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. For most anyone with money in the market, 2022 was a year to forget – and space stocks were no exception. Remember, these space SPAC names all came to market at about $10 a share. Morgan Stanley in a note to clients recently highlighted those deals as evidence that "space companies [are] on Santa's List," and I suspect M&A won't be slowing down in 2023. A programming note: Investing in Space will be taking the next week off for holiday travel.

☆ Investing in Space: Cash crunch
▼ + stars: | 2022-10-20 | by ( Michael Sheetz | ) www.cnbc.com time to read: +3 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. We're now in the final quarter of the year, and for several space companies, it's survival time. They weren't proven businesses and the tide went out," a banker familiar with the sector told me about the environment for space stocks. While not a definitive metric, the cash burn rates of de-SPAC space companies – from AST SpaceMobile to Redwire and more – give a window into the urgency of the situation. Private space companies are feeling the pinch as well.

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