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We recently published a list of 11 Firms Under Tech, Energy, Aviation Lead Friday Rally. In this article, we are going to take a look at where RocketLab USA, Inc. (NASDAQ:RKLB) stands against other firms under tech, energy, and aviation, which led Friday's rally.
Wall Street’s main indices finished in the green territory on Friday amid a series of catalysts buoying investor appetite.
The Dow Jones Industrial Average rose by 0.80 percent, while the S&P 500 and Nasdaq Composite rallied by 1.26 percent and 1.77 percent, respectively.
Eleven companies—predominantly in the technology, energy, and aviation sectors—posted notable gains. Here is why:
To come up with Friday’s top advancers, 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.
RocketLab USA, Inc. (NASDAQ:RKLB)
Shares of RocketLab USA, Inc. (NASDAQ:RKLB) rallied by 15.14 percent on Friday, adding 3.78 points to close at $28.74 apiece.
Excitements around space exploration are bolstering the company’s shares performance, especially after announcing its 16th successful rocket launch last month, a 60 percent improvement over the 10 rocket launches posted in 2023.
Prospects are even brighter for the company this year after its chief executive officer, Peter Beck, said that the company will increase its launch cadence in the new year.
Beyond rocket launch services, the company also continued expanding its space systems division, manufacturing critical satellite components and spacecraft for the National Aeronautics and Space Administration and other customers.
The development of its larger Neutron rocket is also expected to open new market opportunities.
Overall, RKLB ranks 7th on our list of firms under tech, energy, and aviation, which led Friday's rally. 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 time frame. If you are looking for an AI stock that is more promising than RKLB but that 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.