Space Stocks Slide as Blue Origin Explosion and SpaceX Valuation Reset Dampen Sector Momentum

The red-hot space sector cooled sharply on Friday, retreating from the spectacular gains recorded in May.

Key Catalysts Behind the Sell-Off

Blue Origin suffered an explosion during a test flight, triggering a sharp decline in shares of the company's publicly traded partners and suppliers. Separately, a reassessment of SpaceX's valuation prompted a broader reset across space equities, as investors recalibrated expectations for the industry's near-term growth trajectory.

Market Impact and Sector Performance

The dual shocks erased a significant portion of the sector's May rally, which had been fueled by a series of successful launches and optimistic earnings forecasts. Analysts noted that the valuation reset at SpaceX, long considered a bellwether for private space companies, introduced new uncertainty about pricing benchmarks for the entire sector.

## Market Context

As of May 29, 2026, the Russian ruble traded at 71.37 against the United States dollar (change: +0.47) and at 83.69 against the euro (change: +0.97). Bitcoin was at $73,010, up 0.2% in the last 24 hours. Brent crude oil was estimated at approximately $72 per barrel.