Why Rocket Lab Stock Zoomed 28.5% Higher In April

Shares of Rocket Lab (NASDAQ: RKLB) jumped 28.5% in April, according to data from S&P Global Market Intelligence. The rocket maker and fast-growing space economy company saw its stock price rise on Wall Street price target upgrades, an increased backlog, and continued execution of its launch business. Plus, it is likely riding on the momentum of the upcoming SpaceX IPO, which is scheduled for June.Here's why Rocket Lab stock soared in April. Rocket Lab has built itself into the second coming of SpaceX, albeit still years behind the leader in the field. It has a small rocket, the Electron, that delivers precise payloads into orbit. Along with the Electron, the company offers numerous programs to help build space products for commercial customers, such as satellites and communication systems. This vertical integration has enabled Rocket Lab to consistently win customer orders, along with its safe launch execution.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool