RKLB is trading at $71.53 (up 3.2%) during mid-session trading after filings revealed that growth-focused investment firm Baillie Gifford massively expanded its position in the rocket maker to $1.25 billion.
- The significant position increase signals strong institutional confidence in Rocket Lab's defense contract momentum, contributing to a 7.8% gain for the stock over the past week.
- Broader market strength provides additional tailwinds for the rally, with the S&P 500 rising 0.53% and the Nasdaq gaining 0.82%.
- Despite the upward momentum, some investors remain cautious regarding the company's $38 billion valuation while it remains unprofitable.