Space stocks are back in the spotlight, and this time the story is actually moving the whole sector. On June 29, Rocket Lab (RKLB) shocked investors with an $8 billion cash and stock deal to buy Iridium Communications (IRDM). The transaction is expected to close around mid-2027 and ranks among the biggest commercial space mergers so far. That agreement valued Iridium at a 24% premium and immediately sent Rocket Lab up 15.93%, with Iridium jumping 25.44%.
Recently, space names had dropped roughly 30–45% over the prior month after SpaceX Exploration Technology’s (SPCX) IPO, so this kind of headline was enough to flip sentiment. Planet Labs PBC (PL) quickly joined the rebound, climbing 15.55% in a single session and clawing back part of its recent losses. Now the question is whether Planet Labs can turn this sympathy rally into lasting gains or if it is just catching a short-lived burst of enthusiasm.
