Where Will Rocket Lab USA Stock Be in 3 Years?
Rocket Lab USA (NASDAQ: RKLB), the creator of the Electron orbital rocket, went public by merging with a special purpose acquisition company (SPAC) three years ago. The combined company's stock started trading at $11.58, soared to an all-time high of $20.72 just two weeks later, but now trades at less than $7 a share.
Like many other SPAC-backed companies, Rocket Lab set the bar too high during its pre-merger investor presentation. When it missed those estimates, its stock price tumbled. Rising interest rates exacerbated that pressure by crushing its valuations.
Could this out-of-favor space stock blast off again over the next three years?
Source Fool.com
