UFO is trading at $46.67, down 3% today as a selloff in top holding SpaceX and a broader global tech rout weigh on the space and satellite infrastructure sector.
- The decline extends a multi-day slide following an earlier parabolic rally, driven by mounting concerns over heavy capital spending in AI-related industries.
- Broader pressure is hitting satellite infrastructure and AI-linked names as market sentiment shifts amid a wider retreat from high-growth technology stocks.