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Shares of satellite communications company EchoStar (NASDAQGS:SATS) fell 7% in the morning session after investors reacted to the historic initial public offering (IPO) of SpaceX.

SpaceX had a successful IPO and soared in its first trading day. So why did Rocket Lab stock fall rapidly?

SpaceX was a seminal event for the stock market. The hype was palpable and created a halo effect, helping lift shares of other space-related companies. What goes up must come down, though. Investors used the SpaceX IPO as an opportunity to take profits in several space names.

The S&P 500 Index ($SPX ) (SPY ) on Friday rose +0.50%, the Dow Jones Industrial Average ($DOWI ) (DIA ) rose +0.70%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) rose +0.64%. June E-mini S&P futures (ESM26 ) rose +0.65%, and June E-mini Nasdaq futures (NQM26 ) rose...

Several tech stocks rallied Friday following the news that they will be added to the Nasdaq 100 later this month.

Space-linked shares fell as investors shifted attention toward Elon Musk's $1.8 trillion company and its $135 IPO price.

Yahoo Finance Senior Reporter Brooke DiPalma joins Market Domination to tackle today's top trending tickers, including the momentum driving SpaceX (SPCX) shares in Friday's session after the company's IPO, the impact it is having on other space stocks Virgin Galactic (SPCE) and Rocket Lab (RKLB), and how semiconductor stocks such as Micron Technology (MU) and Nvidia (NVDA) are moving on the historic public offering.

CNBC Wealth Editor correspondent Robert Frank delivered a milestone moment on air this morning, saying: “By the end of today, Elon Musk will likely become the world’s first trillionaire.” This comes as the result of the long-awaited SpaceX IPO, which is poised to revalue Musk’s privately held stake at public-market multiples and push his net ... Wealth Expert: SpaceX IPO Will Likely Make Elon Musk the World’s First Trillionaire

All Eyes on SpaceX IPO Today.

Currently valued between 1.75-2.00 trillion in market capitalization, today's IPO is underwritten by Goldman Sachs (GS) and is expected to raise $75 billion.

Shares of Virgin Galactic (NYSE:SPCE) are down 24% in early Friday trading, while Rocket Lab (NASDAQ:RKLB) stock is down 8% and AST SpaceMobile (NASDAQ:ASTS) stock is trading 10% lower. These price moves arrive on the same morning that privately held SpaceX is making its long-awaited trading debut. The selloff is jarring given the surrounding hype. ... Virgin Galactic Craters 24%, Rocket Lab Drops 8%, AST SpaceMobile Falls 10% as SpaceX Hype Triggers a Space-Stock Shakeout

It promises to be a wild day on Friday with the start of trading for SpaceX, following its record-setting IPO, which priced shares at $135 on Thursday. SpaceX essentially created the space economy by pioneering reusable rockets and building Starlink, its space-based broadband product. Shares of launch-services provider Rocket Lab were down 9% in early trading.

The Long Beach-based space company will officially join the index on June 22, placing it alongside Nvidia, Apple, and Microsoft

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively trad

SpaceX was indicated sharply higher ahead of Friday's IPO debut. Other space stocks were mixed, but Rocket Lab rose on Nasdaq 100 inclusion.

SpaceX (SPCX) hits public markets today at a touted $1.75 trillion valuation, and for the first time, investors have to choose between two of Musk's biggest bets - SpaceX and Tesla (TSLA) - rather than just one.

Rocket Lab, Astera Labs, CoreWeave, Nebius, and Teradyne replace five index constituents in the quarterly rebalance

Rocket Lab, Nebius, CoreWeave Stocks Jump After Major Nasdaq-100 Shakeup

Investors chase IPO buzz while questioning AI growth

Space stocks jumped ahead of SpaceX's public debut on Friday.

Space stocks jumped ahead of SpaceX's public debut on Friday.

Space stocks jumped ahead of SpaceX's public debut on Friday.

The rocket launch company is set to join the tech-heavy index as investors gear up for SpaceX’s blockbuster trading debut.

Stock Market Today: The Dow Jones index rose Friday on U.S.-Iran peace deal hopes. The SpaceX stock IPO will start trading shortly.

Space takes over the stock market as investors gear up for rocket and AI company SpaceX’s blockbuster trading debut.

Private capital is pouring into AI data center buildout, Adobe can’t shake software fears, this vacation destination is getting cheaper, and more news to start your day.

The rocket launch company is set to join the tech-heavy index as investors gear up for SpaceX’s blockbuster trading debut.

🔎 SpaceX (SPCX): Elon Musk’s rocket company will make its stock-market debut later today. ↗️ Virgin Galactic (SPCE), AST SpaceMobile (ASTS), Rocket Lab (RKLB): Stocks tied to the space industry are jumping premarket.

Stocktwits data showed retail sentiment has softened, leaning 'bearish' on SPY and 'neutral' on QQQ.

Rocket Lab (NasdaqGS:RKLB) is being added to the Nasdaq-100 Index, one of five companies selected for inclusion. The index change marks a new phase of visibility for Rocket Lab within large cap growth and technology focused benchmarks. This event is expected to trigger index fund rebalancing, which can affect trading volumes and ownership mix. Rocket Lab enters the Nasdaq-100 with its stock at $114.78 and a return of 51.0% year to date. Over the past year, the stock has gained 334.8%, and...