Down Nearly 65% From Its 52-Week High, Has Rocket Lab Stock Become a Bargain Buy?
Rocket Lab (NASDAQ:RKLB) stock has been declining sharply in recent months. Around the time Space Exploration Technologies Corp went public, there has been less excitement (and money) to go around for space stocks, and Rocket Lab appears to have felt that, significantly. In late May, just before the SpaceX IPO, it hit a high of $151. On Monday, it closed at just under $54 -- a decline of 64% from that peak. At $34 billion in market cap, it's nowhere near as big as SpaceX, which is worth around $2 trillion today. But it still has tremendous growth potential in space, and it's been posting some incredible numbers. Could this struggling rocket stock be a bargain buy right now? Image source: Getty Images. Continue reading