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Thesis
Rocket Lab USA, Inc. (NASDAQ:RKLB) stock has been on a tear lately, with the stock more than doubling in the past month. Some have referred to this surge as a 'rocket launch' but even rockets are
No, Rocket Lab Stock Does Not Defy Gravity (Technical Analysis)
Summary
- Rocket Lab stock has surged recently but is likely to experience near-term weakness due to bearish technical indicators and stretched valuations.
- Technical analysis shows distant support levels and bearish patterns, suggesting a pullback is imminent, though long-term prospects remain strong.
- Fundamentals indicate strong revenue growth but widening losses, with the P/B ratio suggesting overvaluation despite promising company developments.
- I rate Rocket Lab as a hold, recommending investors wait for a better entry point once the current correction stabilizes.
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