Newsflash: Rocket Lab Makes Spy Satellites Now
Rocket Lab stock costs a lot. But do its growth prospects justify the price?
Rocket Lab (NASDAQ: RKLB) stock has taken off like -- what else? -- a rocket. Over the past 52 weeks, shares of the maker of tiny satellites and the only slightly bigger rockets that launch them has soared 521%, gaining about 10% per week. At nearly $27 per share currently, Rocket Lab carries a market capitalization of more than $13.3 billion, and is valued at 31 times its annual sales.
Whatever might Rocket Lab be able to do to justify such an optimistic valuation?
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