The space sector is getting hammered this week. Nearly every name on the board is red, some sharply so, as a combination of SpaceX pre-IPO fatigue and the implosion of a high-profile short squeeze drags the group lower across the board.

LUNR stock is moving. See the chart and price action here.

SPCE Short Squeeze

Virgin Galactic Holdings, Inc. (NYSE:SPCE) cratered 30.58% this week to $4.29 after one of the more dramatic squeezes in recent memory flamed out. 

On Monday, SPCE touched $8.90 intraday on speculation and derivative settlement dynamics, short interest stood at 23.2% of float heading in, and S3 Partners estimated short sellers were sitting on $64 million in losses at the peak. 

Read Also:

Will Quantinuum Lift Other Quantum Stocks, Or Eat Their Lunch?

The arrival of strategic investor Rich Huang of RichRich Capital, who disclosed a 5.26% stake, added fuel to the fire. 

But SPCE closed Monday at $7.52, and the squeeze has since unwound sharply, Wednesday’s close of $4.29 puts the stock well below where it started the week from the prior Friday’s $6.18 close. The squeeze is over.

Around the Sector

Redwire Corp.