Jim Cramer highlights Rocket Lab Amidst space Industry Growth
NEW YORK, NY – October 26, 2023 – Rocket Lab Corporation (NASDAQ:RKLB) is gaining attention as a key player in the burgeoning space industry, according to CNBC’s Jim Cramer. During the september 9 episode of his show, Cramer discussed the stock, noting its recent performance and increasing institutional interest.
Rocket Lab provides thorough space solutions, including launch services via its Electron small launch vehicle, spacecraft manufacturing, and satellite management. The company is also developing the larger Neutron rocket for more substantial missions and supplies spacecraft components. Cramer’s comments come as the space sector continues to attract investment and innovation, with companies vying for a larger share of the market.
Cramer observed that Rocket Lab’s stock “ran out of steam in July” and has been “trading sideways for the past two months,” but highlighted a notable rally.”This… consolidation… I know that Bob likes very much,” Cramer stated, referring to chartist Bob Lang. Lang pointed out that Rocket Lab is still up roughly 220% from its April lows, a surge largely driven by high trading volume. He also noted the stock is attracting interest not onyl from younger retail investors but also from larger institutional money managers.
