This week, all eyes are on SpaceX. But the hottest space stock is a much smaller name.
It is called Satellogic. The firm builds satellites just outside Uruguay's capital.
Its stock has more than tripled in 2026. That makes it the best space stock on the market right now.
SpaceX is about to go public. Its IPO prices this week, and shares start trading Friday.
An IPO is the first time a firm sells stock to the public. A big one pulls money toward the whole sector.
This is one of the most awaited IPOs in years. When SpaceX filed back in May, space stocks jumped across the board.
That spillover has a name: a halo effect. Hot money flows from the big name onto everything near it.
Most people can't buy SpaceX yet. So they buy the smaller space names they can own today.
Satellogic is one of the easiest to grab. That demand is a big reason it has run so hard.
Think of a hot new restaurant on a quiet street. The shops next door get busy too, just by being close.
Its gain has left rivals behind. No other space stock comes close this year.
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Satellogic does have a real business. It builds satellites and sells sharp photos of Earth.
Governments and firms buy those photos. They use them for maps, farming, and defense work.
The firm aims to photograph the whole planet, again and again, at a low cost. That is its pitch to big customers.
Sales grew fast last quarter, up 80% from a year ago. But the total was just $6.1 million.
The firm also spent less cash than it took in. That was a first for it as a public company.
In plain terms, it stopped burning money. For a young space name, that milestone matters.
Still, $6.1 million is tiny next to a stock that has tripled. The hype is huge, and the business is still small.
By the numbers:
One thing should make investors slow down. The chairman is selling.
That chairman is Steven Mnuchin, a former Treasury Secretary. He is also one of the firm's biggest backers.
Groups tied to him sold 10 million shares in late May. The sale brought in $97.7 million.
When the board's leader cashes out in a rally, people tend to notice.
It does not always mean trouble. Insiders sell for plenty of reasons, from taxes to spreading their bets.
Still, the size stands out here. Nearly $100 million is a lot to pull out near a peak.
The real test comes Friday. That is when SpaceX starts trading and sets the mood for the whole group.
Satellogic has tripled on space hype. Its own chairman just sold nearly $100 million of it.
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