13 Best Meme Stocks To Buy Right Now

5. Rocket Lab USA, Inc. (NASDAQ:RKLB)

Number of Hedge Fund Holders: 37

Rocket Lab USA, Inc. (NASDAQ:RKLB) is a space technology company that offers launch services, spacecraft design, manufacturing, and on-orbit management solutions across the US, Canada, Japan, and other global markets. The company has experienced significant growth in recent years, which has put it in the spotlight for retail investors. With strong financial performance, a promising industry outlook, and a solid business model, Rocket Lab has placed itself among the best meme stocks to buy.

On February 27, Rocket Lab USA, Inc. (NASDAQ:RKLB) announced one of its largest Electron launch agreements yet, securing a second multi-launch deal with Japan-based Earth imaging company Institute for Q-shu Pioneers of Space. This new contract builds on a previous multi-launch agreement signed in 2024. In total, the two deals include six missions set for 2025 and two more in 2026.

Rocket Lab USA, Inc. (NASDAQ:RKLB) reported its highest annual revenue in 2024, reaching $436 million, an increase of over 78% from the previous year driven by its end-to-end space services strategy. The company saw more than 26% growth from Q3 to Q4, while Q4 revenue rose 121% year-over-year. In terms of cash flow, Rocket Lab’s non-GAAP free cash flow for Q4 was a negative $23.9 million, an improvement from the negative $41.9 million in Q3. By the end of Q4 2024, the company’s total cash, cash equivalents, restricted cash, and marketable securities stood at $484 million.

According to Insider Monkey’s fourth quarter database, 37 hedge funds were bullish on Rocket Lab USA, Inc. (NASDAQ:RKLB), a significant increase from 16 funds in the previous quarter.