President Donald Trump prompted a rally for space and rocket stocks Tuesday after vowing to send astronauts to Mars during his second inaugural address on Monday. Redwire stock vaulted about 51% Tuesday, followed by Rocket Lab with a 30% gain.
"The United States will once again consider itself a growing nation, one that increases our wealth, expands our territory, builds our cities, raises our expectations and carriers our flag into new and beautiful horizons," President Trump said during the address. "And we will pursue our manifest destiny into the stars, launching American astronauts to plant the stars and stripes on the planet Mars."
Trump ally and SpaceX CEO Elon Musk, who is heading the newly formed Department of Government Efficiency (DOGE), echoed those comments during his speech at the post-inauguration celebration.
"We're going to take DOGE to Mars," Musk said. The Tesla CEO has been a longtime proponent of trying to colonize the fourth planet from the sun. SpaceX has been working to develop reusable rockets and spacecraft to achieve interplanetary travel.
Trump Doesn't Mention Moon Landings
However, Trump's speech made no mention of NASA's planned return to the moon. The Artemis II mission, the first crewed Artemis mission around the moon, is slated for April 2026 following delays. The Artemis III mission, scheduled for late 2026 to mid-2027, hopes to land the first astronauts near the lunar South Pole, according to NASA. The space agency said the Artemis IV, the first mission to the Gateway lunar space station, is scheduled for 2028 barring delays.
However, Musk has dismissed the need for moon missions. "We're going straight to Mars," he posted online at the beginning of January. "The Moon is a distraction."
President Trump previously tapped former Shift4 Payments CEO Jared Isaacman to serve as NASA administrator. The billionaire has traveled to space twice on SpaceX rocket missions that he helped fund.
Isaacman replaced former NASA chief and Florida Sen. Bill Nelson, who stepped down on Jan. 17.
Rocket, Space Stocks
Space stocks rallied Tuesday following Trump's address.
Redwire, which develops mission-critical parts and components, saw shares spike more than 51% to record highs Tuesday. The company also announced Tuesday it would buy Edge Autonomy for $925 million in cash and stock.
Rocket Lab soared 30%, clearing a recent range going back to late November.
Planet Labs, a satellite imagery and data company, vaulted 22.3% to 4.67. PL stock notched its highest closing price in 19 months. Shares are working on a 4.99 buy point.
Space services and rover technology manufacturer Intuitive Machines jumped 24%, setting a 22-month best intraday.
Starlink competitor AST SpaceMobile popped 11%, but is still below its 50-day line.
You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison
