Rocket Lab and AST SpaceMobile Are Priced for the Big Bang. One Space Stock Already Delivered.

When asked to name a space stock, many investors will respond with SpaceX. The reason is usually the company's rockets, reusable boosters, Starlink, and plans for Mars. However, SpaceX is far from the only space company with potential. Rocket Lab (RKLB) is a space stock that has moved past the launch phase and is now focused on infrastructure, communications, data collection, defense, and meteorological applications.

Rocket Lab operates in two segments: Services, which includes space launches, and Products, which covers hardware and components for other companies and space agencies. The Products segment now accounts for over three-quarters of the company's revenue, making it a significant part of its growth. Despite some delays, Rocket Lab has achieved record revenue and a robust backlog, but its stock remains expensive at 4,000% higher than the sector median. The company's profitability is still uncertain, with no expectation of profitability until 2027.