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Rocket Lab’s 46% Collapse Hides A Much Bigger Space Story!

Rocket Lab has become one of the more unusual stories in the booming commercial space market. Its shares fell roughly 46% over three months following the enthusiasm and subsequent selloff around SpaceX’s June IPO, even though Rocket Lab’s operating performance continued to improve. Second-quarter revenue reached a record $234 million, up 62% year over year, while the company ended the period with $2.36 billion in backlog and continued signing major government and commercial contracts. Wall Street remains broadly positive on the stock, with Raymond James recently initiating coverage with a Buy rating and an $80 target, while the broader analyst consensus has remained heavily tilted toward Buy ratings. Yet the more interesting question is no longer whether Rocket Lab can simply become a smaller SpaceX.