Better Space Stock: AST SpaceMobile vs. L3Harris Technologies
AST SpaceMobile's shares have come back to Earth. Is it now a better buy than L3Harris Technologies?
Space stocks gained momentum in the spring, reigniting investor interest following SpaceX's IPO on June 12. According to the World Economic Forum, global spending on space could soar to $1.8 trillion by 2035, compared to $630 billion in 2023. The growth potential lies in the demand for space-based technologies in communications, positioning, navigation, timing, and Earth observation.
The miniaturization and reduced cost of satellites have spurred an increase in rocket launches, with annual launches expanding throughout this decade. AST SpaceMobile (NASDAQ: ASTS), a satellite communications firm, and L3Harris Technologies (NYSE: LHX), a defense contractor with substantial ties to the space industry, have been navigating this evolving landscape.
Since SpaceX's IPO, AST SpaceMobile's shares have plummeted more than 24%, while L3Harris shares have slipped over 15% during the same timeframe.
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