Should You Buy Rocket Lab While It's Below $40?

Space and defense stocks have gone to the moon this market cycle (pun intended). Rocket Lab (NASDAQ: RKLB) is one of the great beneficiaries of this trend, as the rocket launch, space systems, and defense company has seen its stock soar close to 600% in the last 12 months, absolutely crushing the broad market indices. It recently surpassed a price of $33, hitting a new all-time high in recent weeks.Investors are optimistic about the future of this space flight disrupter as it aims to compete with SpaceX. Should you buy the stock while it is still below $40? Or is it too late to add Rocket Lab to your portfolio? The answer may surprise you.Rocket Lab is the only independent space provider to come anywhere close to competing with SpaceX, the dominant player in the sector. It began its journey developing the small and nimble Electron rocket, which ferries commercial and defense payloads into space with extreme accuracy. Earlier this month, the 65th Electron rocket was launched into space, with many more waiting in Rocket Lab's backlog.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool