Why Rocket Lab Shares Were Up Today

Shares of Rocket Lab USA (NASDAQ: RKLB) blasted 10% higher on Thursday after a Wall Street analyst assigned a buy rating to the satellite launch company. Rocket Lab is well-positioned to compete in a key segment of the space market, according to the analyst, giving investors a lot to get excited about.

Rocket Lab is one of a number of space companies to go public in recent quarters via a merger with a special purpose acquisition company (SPAC), and investors have been taken on a wild ride by the company in a short amount of time. The stock is up 54% since its late-August debut, and at one point in early September the stock had nearly doubled.

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Source Fool.com