“We will pursue our manifest destiny into the stars, launching American astronauts to plant the stars and stripes on planet Mars,” he said. Trump’s comments sparked an enthusiastic response from his close ally, SpaceX Chief Executive Elon Musk, who pumped his arms and gave a thumbs up.

Space stocks soared on Tuesday as bullish sentiment in the sector swelled after Donald Trump took office. Read more.

Shares of Tesla Inc. slumped Tuesday alongside other electric-vehicle makers, while space company stocks saw big gains, after President Donald Trump announced a series of policies that could have wide-ranging impacts on markets.

Set against this backdrop, space-launch company Rocket Lab USA Inc. RKLB and space-exploration company Intuitive Machines Inc. LUNR are particularly well positioned, according to Cantor Fitzgerald analyst Andres Sheppard.

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 38% Tuesday,

Space stocks skyrocketed on Tuesday, the first trading session following Donald Trump’s inauguration as the 47th President of the United States, as he highlighted his administration’s enthusiasm surrounding space exploration.