If I Could Only Buy 1 Space Stock for the Next Decade, It Wouldn't Be SpaceX or Rocket Lab
Key PointsSpaceX and Rocket Lab are growing quickly but trade at steep valuations.
Investors in space stocks are focusing on Space Exploration Technologies (SpaceX) and Rocket Lab. However, these companies appear to be significantly overvalued, with price-to-sales ratios indicating potential disappointment for long-term investors. If an investor seeks exposure to the space economy, they may want to consider a different stock instead.
Planet Labs (NYSE: PL) is one such alternative. Founded with the mission to monitor Earth from space, Planet Labs boasts a fleet of satellites that capture images to support various uses such as environmental monitoring, military applications, and more. While Planet Labs is not without its risks, it could offer a promising long-term bet for investors looking to purchase low today.
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