Space economy stocks have been receiving greater attention lately as a result of the Space Exploration Technologies (SpaceX) initial public offering (IPO) and the race to build infrastructure for sending, monitoring, and operating services in orbit (and possibly beyond).
One company nipping at SpaceX’s heels is Rocket Lab (NASDAQ: RKLB)
It has laid out an ambitious plan to build a vertically integrated space flight business, and it will report second-quarter earnings within the month. Here’s why I will be watching the fast-growing space stock this quarter, and what would make the stock a buy for my portfolio. Neutron progress and more contracts Rocket Lab built its reputation as a niche player in the rocket launch business with its small Electron rocket.
It does not deliver massive payloads to orbit, but it can be a great solution for smaller projects, having made 82 orbital flights with 78 successful missions for customers. Currently, Rocket Lab is developing a larger rocket, the Neutron, to directly compete with SpaceX, and it is close to making its debut. The maiden flight for the Neutron is planned for the fourth quarter of this year, and investors will likely ask for updates in the company’s upcoming earnings report.