Why Rocket Lab USA, Inc. (RKLB) Soared At The Start Of The Trading Week

We recently compiled a list of the 10 Firms Kick Off Trading Week Soaring. In this article, we are going to take a look at where Rocket Lab USA, Inc. (NASDAQ:RKLB) stands against the other stocks.

Wall Street’s main indices kicked off the trading week soaring on Tuesday amid a series of catalysts from President Donald Trump’s inauguration event that fueled investor sentiment.

The Dow rose by 1.24 percent, the S&P 500 rose 0.88 percent, while the Nasdaq Composite increased 0.64 percent.

On Tuesday, 10 companies—mostly under the space exploration, energy, and quantum computing sectors—registered the highest gains. In this article, let’s take a look at their impressive performance.

To come up with Tuesday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A launch pad atop a grassy hill, smoke filled sky from a successful voyage to space.

Rocket Lab USA, Inc. (NASDAQ:RKLB)

Rocket Lab USA, Inc. (NASDAQ:RKLB) touched a new all-time high on Tuesday at $31.64 apiece before trading slightly lower to end at $31.27 each.

Rocket Lab (NASDAQ:RKLB) traded higher in line with its counterparts amid overall market optimism towards the space exploration industry, boosted by President Donald Trump’s promise to support the US mission to send astronauts to Mars.

At his inauguration on Monday, Trump said that the US “will pursue its manifest destiny into the stars, launching American astronauts to plant the Stars and Stripes on the planet Mars.”

Trump’s pronouncements have signaled a more robust space exploration industry under his term, further fueling optimism in the sector.

In related news, Rocket Lab (NASDAQ:RKLB) announced that it has scheduled the next Electron launch for Kinéis, a global provider of Internet-of-Things (IoT) connectivity. The said mission will be the fourth of five dedicated Electron launches under a multi-launch contract with Kinéis, aimed at deploying a complete constellation of 25 IoT satellites.

The first three launches, which took place in June, September, and November 2024, were successfully executed, marking significant progress in the deployment of this global IoT network.

Overall RKLB ranks 3rd on our list of the firms that kicked off the trading week soaring. While we acknowledge the potential of RKLB as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as RKLB but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.