Rocket Lab USA (RKLB)

by | Sep 1, 2022 | Daily Trade Alerts

Keep an eye on $2.66 billion Rocket Lab USA (RKLB).

The stock popped on a volume spike to 6.8 million shares just yesterday, as compared to daily average volume of 4.56 million. All after Cowen analyst Cai von Rumohr upgraded the stock to a buy rating with an $8 price target.

“Rocket Lab looks well positioned to become a strong #2 launch provider after SpaceX,” von Rumohr wrote. He added, “With six successful launches year to date, Rocket Lab has widened its #2 position in the U.S. market after SpaceX,” he said, as quoted by Barron’s.

From a current price of $5.50, we’d like to see the RKLB stock challenge prior resistance around $7. At the moment, it’s just starting to pivot after finding support at $5 a share.


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