Rocket Lab USA Inc. (NASDAQ: RKLB) shareholders recently saw RKLB stock hit a new 52-week high of $8.98 per share. As of this writing, it's pulled back a little to $8.69 per share but is still one of the best-performing stocks in 2024 and over the last 12 months. Many analysts believe that RKLB stock is a long-term buy, but is this a stock for investors to chase at this price?
Rocket Lab is one of the top names in the red-hot space economy. Many companies like Space-X and Rocket Lab aim to be an end-to-end space company that can help customers build the infrastructure needed to make space travel a common reality. Rocket Lab generates revenue from its launch business and its space services business, which account for about 70% of the company's current revenue.
The bullish case can begin with the idea that Rocket Lab is still standing. That can't be said for other companies in this space. However, it's also important to note that the company isn't turning a profit...yet. That makes it difficult to give the stock an accurate valuation.
Launch Activity Has the Stock Ready for Liftoff
The current reason for Rocket Lab's stock's performance comes from its product launches. On September 20, Rocket ...
