QUICK BUY ALERT: ROCKET LAB (RKLB)

Today, as stocks show some resistance and a potential bottom comes into view, we’ve decided to go through with a new purchase: Rocket Lab (RKLB). Despite Rocket Lab’s success, we wouldn’t doubt that most of our readers have never heard of them. They’ve worked with large companies, having developed and deployed satellites for NASA, the United States Space Force, Canon, and more. RKLB has been on a hot streak lately, providing customers with frequent and successful launches. Since October 2022, Rocket Lab has successfully launched one mission every month since April 2022. They’ve made eight successful launches this year, beating their 2020 record of seven. This is some serious momentum.

Rocket Lab does more than just launches; they build and use small reusable rockets and create segments and systems for satellites. Price targets from several Wall Street economists are set relatively high, ranging from $8, to $12, to $15—they have faith in this company just as we do, and for a good reason.

According to Rocket Lab’s official Q2 earnings report, they are not only growing rapidly, but they also anticipate this is just the beginning. From this report, Rocket Lab hit “record revenue of $55.5 million, representing 36% sequential quarter-on-quarter growth and 392% year-on-year quarterly revenue growth.” As for their third quarter, they anticipate that “revenue [is] expected to range between $60 million and $63 million.” Although it might be challenging to compete with Elon Musk’s SpaceX, Rocket Lab has proved that it’s more than capable of carving out its section in the space market.

For these reasons, we’ve purchased RKLB at $4.20. If you’d like to perform your own research on Rocket Lab (which we highly encourage), here’s the link to their website: https://www.rocketlabusa.com/