Rocket Lab Stock Surges on Reinstated Analyst Coverage

Shares are on track for their sixth-straight daily win

Digital Content Manager
Feb 12, 2024 at 10:30 AM
facebook X logo linkedin

Citigroup reinstated coverage of Rocket Lab USA Inc (NASDAQ:RKLB) with a "buy" rating and $6 price target, with the analyst in coverage noting its $515 million award from the Space Development Agency. At last glance, the security is up 8.1% to trade at $4.69.

RKLB slipped into chip stock territory back in January, but has been in rally mode since its pullback to $3.89 -- its lowest level since May. The shares are today poised to conquer the 100-day moving average, as they eye their sixth-straight daily win and best day since Dec. 22. 

Options bulls are frenzied today, with 5,734 calls -- six times the intraday average -- compared to only 392 puts. The most popular contract by far is the February 4 call.

This denotes a shift in sentiment, as short-term options traders lean bearish. This is per Rocket Lab USA stock's Schaeffer's put/call open interest ratio (SOIR) which sits at the top of annual readings. 

The security also looks ripe for a short squeeze. Short interest rose 10% over the last two reporting periods, and the 23.10 million shares sold short make up 6% of RKLB's available float. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI