Stock Story -
What Happened: Shares of aerospace and defense company Rocket Lab (NASDAQCM:RKLB) jumped 14.9% in the morning session after the company reported second quarter earnings results. Rocket Lab blew past analysts' EPS expectations this quarter. On the other hand, its revenue guidance for next quarter missed, and its EBITDA guidance for next quarter fell short of Wall Street's estimates. The market seems to be looking past the weaker guidance, and the stock is up as a result.
Is now the time to buy Rocket Lab? Find out by reading the original article on StockStory, it's free.
What is the market telling us: Rocket Lab's shares are very volatile and over the last year have had 30 moves greater than 5%. But moves this big are very rare even for Rocket Lab and that is indicating to us that this news had a significant impact on the market's perception of the business.
Rocket Lab is up 2.8% since the beginning of the year, but at $5.48 per share it is still trading 16.2% below its 52-week high of $6.53 from September 2023.
![Why Is Rocket Lab (RKLB) Stock Rocketing Higher Today](https://d68-invdn-com.investing.com/content/pic25cccbdc494cd79d1492468663c57999.jpeg)