Rocket Lab's Surge Amidst Market Volatility

Rocket Labs shares surged over five percent following a record third-quarter revenue of $155 million, beating expectations and showing a forty-eight percent increase from last year. Analysts maintained an Overweight rating and set a $72 price target, citing a $1.1 billion backlog and potential growth from government contracts. Despite this, the broader market experienced volatility due to a strong jobs report, reducing the chances of an interest rate cut in December. Rocket Labs shares closed the day up nearly seven percent, but overall market sentiment remained cautious.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.