McKinsey & Company’s report estimates the space economy stands at a valuation of $447 Billion, and by the end of this decade, it is expected to jump up to $1 Trillion. Rocket Labs is Poised to Benefit from the Booming Space Economy RSI is at 65 suggesting a bullishness in RKLB stock price movement with the MACD showing an upward curve following a crossover. Rocket Lab stock is way above from the support of $3. The gap between the moving averages indicates the likelihood of prices to continue moving upwards. It witnessed a golden crossover during July end. The losses also widened in the yearly time frame, from $26.7 Million in Q1 2022 to $45.6 Million in Q1 2023.Ĭurrently, the RKLB stock price is higher than the 50- and 200-day EMA. Its gross profit remained at $6.35 Million with the earnings per share at -$0.10. The company reported a revenue of $54.9 Million, a 35% increase year over year. The first quarter earnings of the company gave the initial push to the Rocket Lab stock price. Source- Rocket Lab USA Inc (NASDAQ: RKLB) Stock Price Movement on TradingView The value of RKLB stock has doubled within two months at the current trading price. The Rocket Lab stock price is in a constant up move since its low at around $3.8 in May. Earlier, in the ‘not so fun’ trading session, the stock price jumped significantly up to 25% for two consecutive days. RKLB stock is trading at $7.93 marking a 1.28% surge in the last trading session. Launchpad for the satellites was the company’s commercial spaceport in New Zealand. The satellites belonged to NASA, University of Toronto Institute for Aerospace Studies’ Space Flight Laboratory and Spire Global, the company noted. In the space mission dubbed “Baby Come Back”, Rocket Lab launched seven satellites using reusable orbital-class small rocket Electron. Following the company’s announcement on July 18, 2023, the RKLB stock rose up to 15%.Īs the company is making space access for entities easier, it is getting fruitful results in return. The Rocket Lab stock price skyrocketed reflecting the optimism around the company. Rocket Lab USA Inc (NASDAQ: RKLB) recently reported to carry out a successful space mission.
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