By Barbara Kollmeyer and William Gavin
The red-hot space sector was feeling some heat on Friday, cooling from some of the spectacular gains seen in May
An image grab obtained on May 29, 2026, from UGC video content on the X page of @JConcilus and shared on social media shows Blue Origin's New Glenn rocket exploding during a test flight on May 28, 2026, in Cape Canaveral, Fla.
The red-hot space sector was feeling some heat on Friday after a dramatic explosion of a Blue Origin rocket, with shares of AST Spacemobile down by more than double digits.
Adding to the gloom was a Bloomberg report, which citing sources said that SpaceX is targeting a valuation of $1.8 trillion, down from $2 trillion. The sector has been on a tear since Elon Musk's company officially filed to go public last week.
