Today, shares in highly touted de-SPAC company Rocket Lab (NASDAQ:RKLB) are finally trading. With the SPAC (special purpose acquisition company) merger behind this space-exploration company, investors appear to be selling the news of this stock’s official listing today. Shares of RKLB stock are currently down approximately 9% at the time of writing.
Indeed, such a move has proven to be not uncommon for these de-SPAC companies. Investors looking to buy into the hype have done so late last year and early this year. However, upon being formally listed, many de-SPAC companies have seen their valuations tested by investors. Rocket Lab appears to be the latest in a string of de-SPAC companies now trading around their initial public offering (IPO) offer price.
That said, Rocket Lab is certainly among the more intriguing SPAC offerings we’ve seen of late. This company’s Photon spacecraft is something of an engineering marvel. The company hopes this spacecraft will revolutionize the cost-benefit calculation for space travel. By making trips more affordable, the company wants to spur science and innovation forward. Now that’s an altruistic goal.
For investors intrigued about what Rocket Lab does, let’s dive into a few things to know about this company.
What Should Investors Know About RKLB Stock?
- Today marks the official listing of RKLB stock on the Nasdaq exchange.
- Shareholders approved the merger on Aug. 20, with the vast majority of shareholders voting in favor of the combination.
- As a result of the merger, Rocket Lab received proceeds of approximately $777 million.
- These funds will be used to support the company’s expansion into space applications.
- The hope is for Rocket Lab to deliver data and services from space.
- On Monday, it was reported that NASA had approved the ESCAPADE mission.
- This mission to Mars will feature two Rocket Lab-built Photon spacecraft.
- Additionally, this approval paves the way for Rocket Lab to put the final touches on its design and construction plans for its Photon spacecraft.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.