Rocket Lab slips on planned $750 mln stock sale
** Shares of Rocket Lab Corp RKLB.O down 4.3% in extended trading to $51.70 as it seeks capital
** Space services firm files up to $750 mln ATM (at the market) equity sales program to be handled by BofA and Cantor Fitzgerald, among other brokerages
** It intends to use net offering proceeds to fund growth, including potential acquisitions, and for other general purposes
** Co says may use a portion of proceeds to fund its purchase of German laser communications provider Mynaric M0YAy.BE, if completed
** Long Beach, California-based RKLB has ~483.96 mln shares outstanding as of Sept 1, giving it roughly $26 bln market cap
** RKLB shares on Mon ended up 1.3% at $54.04, extending YTD gain to ~112%
** 10 of 15 analysts rate RKLB "strong buy" or "buy", rest rate "hold"; median PT is $49, per LSEG data
Related Articles
September Global Central Bank Divergence: How Will U.S. Stocks and Forex Markets Move?
TradingKey - Despite the divergence in monetary policies among major global central banks in September (with the Federal Reserve cutting rates while the European Central Bank, Bank of England, and Bank of Japan maintain steady rates), we expect the policy directions of the Fed, ECB, and BoE to...
Duolingo (DUOL): Can the Green Bird Fly High Again
TradingKey - Duolingo is a great business, despite the stock price being down nearly 50% from its peak less than four months ago. However, the question is whether it’s worth buying it at a market cap of $12.5 billion. The answer is “not yet” because the traffic, even though healthy...
U.S. September Rate Decision Preview: What It Means for Bitcoin and Could It Spark a New Rally?
Bitcoin’s rally stalls ahead of the Fed meeting — has the bullish momentum already been priced in?
UK July GDP Commentary: Can GBP Break Through Its Current Fluctuation?
After considering multiple factors, given the evident weakness on both sides of this currency pair, we expect the GBP/USD exchange rate to maintain its current fluctuation trend in the short term.
Fed to Cut Rates: All Asset Prices Up!
TradingKey - The Federal Reserve is almost certain to restart its interest rate cut cycle on 17 September this year. After in-depth research, we have concluded that cryptocurrencies, the broader U.S. stock market, and short-term U.S. Treasury bonds will all go up.
