Rocket Lab is getting nearly $50 million in government subsidies to produce
The U.S. Commerce Department said on Tuesday it planned to award Rocket Lab $23.9 million to dramatically boost the production of compound semiconductors used in satellites and spacecraft.
Rocket Lab is a fast-growing rocket launch business competing with SpaceX. Its shares are down because the company is failing to generate a profit.
Rocket Lab reported 69% sales growth in its Q1 earnings report, but still missed analyst targets. Rocket Lab is growing sales nicely, but still isn't profitable.
Rocket Lab USA (RKLB) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Earlier last week, investor Keith Gill, better known as Roaring Kitty, returned to X, the social media platform formerly called Twitter. Roaring Kitty was a huge factor in the initial meme stock phenomenon back in 2021.