Could Buying Rocket Lab Stock Today Set You Up for Life?
Yahoo Finance ·
Rocket Lab ( RKLB +0.32% ) is one of the clear-cut leaders in space technology. In fact, the company is second only to Space Exploration Technologies in providing rocket-launching services for third-party customers. A recent acquisition move suggests that the company will be making more challenges to SpaceX in another category. Rocket Lab recently announced that it had signed a deal to acquire Iridium Communications ( IRDM 3.54% ) , a provider of satellite-based mobile communication services. The space tech specialist is on track to pay $8 billion to acquire Iridium in a half-cash, half-stock deal. Through the acquisition, Rocket Lab is poised to become a major competitor to SpaceX's Starlink service. With this major acquisition on the horizon, is Rocket Lab a stock that could set investors up for life? Even though Rocket Lab stock is trading down roughly 32% from its all-time high, its share price is still up roughly 187% over the last year of trading. As I write this, the company has a market capitalization of roughly $58.6 billion and is valued at approximately 64 times this year's expected sales. Notably, the company has built an impressive track record of delivering results that come in ahead of the market's expectations.
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