Why Rocket Lab Stock Blasted Off in 2023
Rocket Lab USA (NASDAQ: RKLB) shares visited a lot of places in 2023, at one point up about 100% for the year but also losing about half of their gains for the year over a matter of months.
The ups and downs likely left investors with whiplash day-to-day, but if you zoom out Rocket Lab appears to be heading in the right direction. Shares of the space start-up finished up 46.7% in 2023, according to data provided by S&P Global Market Intelligence, and the company enters 2024 on a lot more stable footing compared to a year ago.
Rocket Lab is one of a number of young space companies that have hit public markets in recent years thanks to the SPAC boom. While all are years away from establishing themselves among the space titans, Rocket Lab has made itself into a formidable rival to more accomplished space companies.
Source Fool.com
