Rocket Lab Corp

RKLB

Market cap $48B

Rocket Lab continues to put up record financial results and expand its reach. The company's robust results and growing backlog suggest it could fly higher.

Shares of Rocket Lab Corp (NASDAQ:RKLB) are moving 4% higher to trade at $79.80 this afternoon, a brief reprieve from its longer-term drawdown on the charts.

It's been about one month since SpaceX's NASDAQ: SPCX initial public offering (IPO), and the stock is down approximately 11% from its first trade on June 12. But cynics shouldn't take a victory lap quite yet.

Insider sales are one thing when made by a general executive employee, but are particularly noteworthy when CEOs are the sellers. Seeing a company's most important decision maker reduce their position is not exactly an encouraging sign.

The biggest winners in space won't just launch rockets. SpaceX has already perfected the vertically integrated model.

Rocket Lab announced its plan to acquire Iridium Communications for $8 billion. The move will give Rocket Lab access to Iridium's 66 low-Earth-orbit satellites.

Shares of SpaceX (NASDAQ:SPCX) are down 5% to $138.58 in early Monday trading, a fresh record low that sits below the $150 debut price and well off the $225 peak on June 16.

Rocket Lab Corp (NASDAQ:RKLB) stock is trading lower on Monday as risk appetite cools across growth-leaning names and traders continue to fade recent momentum. Here's what you need to know.

In this episode of Motley Fool Hidden Gems Investing, Motley Fool contributors Jon Quast, Matt Frankel, and Rachel Warren discuss:

Rocket Lab's "Hungry Hippo" fairing is one of the most innovative ideas in reusable rockets because it keeps the nose cone attached to the booster. It could potentially eliminate the cost and hassle of recovering or replacing a major piece of hardware after every launch.