Rocket Lab Corp (NASDAQ:RKLB) stock is trading lower Wednesday, despite a lack of company-specific news for the session. The decline follows a multi-day surge that was fueled by a series of positive announcements from the company.
What To Know: Last week, Rocket Lab successfully completed its 70th Electron mission, a notable achievement in its launch cadence. The company also announced it would receive a $23.9 million award under the CHIPS and Science Act to expand its semiconductor manufacturing capacity for space-grade components, bolstering U.S. supply chains.
Additionally, the recent completion of its strategic acquisition of Geost, a developer of advanced electro-optical sensor payloads, has positioned Rocket Lab as a potential prime contractor for national security and defense projects.
Despite these developments driving a strong year-to-date performance of over 80%, the stock’s pullback on Wednesday potentially suggests profit-taking following recent strength.
Needham analyst Ryan Koontz reiterated Rocket Lab with a Buy rating on Wednesday and maintained a price target of $55.
Benzinga Edge Rankings: Rocket Lab has a strong momentum score of 99.22. Benzinga Edge members get an advantage with real-time portfolio alerts, actionable stock ideas and pro-grade tools that help them profit in any market.
RKLB Price Action: According to data from Benzinga Pro, Rocket Lab shares are trading lower by 8.54% to $45.10 on Wednesday. The stock has a 52-week high of $53.44 and a 52-week low of $5.74.
Read Also: LightPath Technologies Stock Is Soaring Today: What’s Fueling The Momentum?
How To Buy RKLB Stock
By now you're likely curious about how to participate in the market for Rocket Lab – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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