ENVX - Rocket Lab zooms to top industrial gainer while launch woes mar Astra Space
The week saw two space companies with opposite fate in the stock market. While Rocket Labs gained on merger completion and new facility, Astra declined amid launch woes. All gainers recorded more than +12% gains for the week ending Sept. 3. Industrial Select Sector SPDR (NYSEARCA:XLI) gained +0.99% while SPDR S&P 500 Trust ETF (NYSEARCA:SPY) finished the week in the green +1.55% and is +21.21% YTD. The top five gainers in the industrial sector (stocks with a market cap of over $2B): Rocket Lab USA (NASDAQ:RKLB) +16.77% soared to the top this week following its merger completion with SPAC Vector Acquisition on Monday and announcing a new high volume reaction wheel production facility on Sept. 1. The company expects high demand for satellite components, such as reaction wheels, as its unit Sinclair has already surpassed the total number of satellite components produced by it annually. ZTO Express (NYSE:ZTO) +16.03%. The Chinese logistics services provider has been gaining steadily in the week with
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Rocket Lab zooms to top industrial gainer while launch woes mar Astra Space