Why Rocket Lab Stock Popped Today – Yahoo Finance
This article first appeared on GuruFocus.
Rocket Lab USA (NASDAQ:RKLB) shares climbed about 10% on Wednesday after the space company completed its Mynaric acquisition, introduced a new satellite thruster and drew a fresh analyst upgrade.
Rocket Lab said the $155.3 million transaction, paid with cash and about 2.28 million shares, adds laser optical communications terminals to its lineup. The deal also gives the company its first presence in Europe and broadens access to commercial and national security customers.
The company also unveiled Gauss, an electric thruster aimed at satellite operators that need higher-volume production. Rocket Lab said its production line can make more than 200 units a year, with the system designed for large constellations and longer missions.
Moreover, Broader sentiment around Rocket Lab has also been helped by speculation that SpaceX could move toward an IPO later this year.
Reuters reported that SpaceX filed confidential IPO paperwork and was targeting an early-June roadshow, while Bloomberg said the Procure Space ETF drew record first-quarter inflows as investors looked for ways to play the space trade.
