Rocket Lab's Shares soared an astonishing 360.6% in 2024.
A whopping 360.6% surge in value for Rocket Lab (RKLB 1.05%) shares in 2024 would've left investors grinning ear-to-ear if it mirrored the 47% gain from 2023. But, oh boy, did things get better! Instead, the launch services provider reached new heights, resulting in an effing epic celebration from shareholders.
Thanks to data from S&P Global Market Intelligence, we know that Rocket Lab's stock skyrocketed in 2024. But let's dive deeper into why those shares went bananas.
What propelled Rocket Lab to new heights?
The first seven months of 2024 saw a few stumbles for Rocket Lab. Shares suffered due to a failed launch event, plummeting over 5% between the start of the year and July.
But wait a minute – this story takes a whole new turn in August. Investors started drooling over the company's second-quarter 2024 financials on Aug. 8. The highlights? You're damn right they were impressive:
- Breaking sales records: The company reported a jaw-dropping $106 million in quarterly revenue!
- Growing backlog: The backlog rocketed to $1.07 billion as of June 30, showing a 5% surge from the previous quarter.
The stock's momentum continued into September and October, skyrocketing close to 71%. But November? Oh boy, here's where things got mind-blowing!
In the third-quarter 2024 financial report, released on Nov. 12, Rocket Lab smashed expectations. Revenue stood at $104.8 million, with a net loss per share of $0.10, beating analysts' expectations of $102.3 million in revenue and a $0.11 loss per share.
Investors also got their hearts racing when management shared the fourth-quarter 2024 revenue forecast, which hovered between $125 million and $135 million. That's not just growth – it's a staggering potential year-over-year sales growth of 117% at the midpoint!
As November wound down, the stock had already soared 155% for the month. It was clear that the sky was no longer the limit for Rocket Lab.
Is it too late for growth investors to hop aboard with Rocket Lab stock?
While the S&P 500 has floated around a 1% decline since the start of 2025, Rocket Lab's stars have only continued brightening, and shares have climbed by more than 5%. If you're looking for a potent growth play or an irresistible space-themed investment, you might be wondering: "Is it already too late to join Rocket Lab's ride?"
At this point, the chances of another 2024-like performance are uncertain, but the company's steady growth trajectory remains promising. The acquisition of new bookings for the Neutron medium-lift rocket is just one example.
If you've got your eye on Rocket Lab stock, now may just be the time to pull the trigger. Hitting the buy button instead of waiting for a possible drop in shares isn't a guaranteed outcome, but hardly a gamble when you consider the company's solid financial health and continued successes.
After analyzing Rocket Lab's financials, investors began pouring money into the company, leading to a significant increase in the stock's value. This trend was further boosted by strong financial reports, such as breaking sales records and a surge in the backlog, which attracted even more investors interested in finance and investing.
Investors' confidence was further reinforced when Rocket Lab reported revenue and earnings for the third quarter that surpassed analysts' expectations. The impressive financial performance and positive outlook for future revenue growth encouraged more investors to invest in Rocket Lab, driving up the stock price even higher.