Rocket Lab Gets Boost With Prestigious Nasdaq Index Update
Here’s our price target on the aerospace firm as a Nasdaq 100 announcement turns heads on Wall Street.
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Earlier this week, news broke regarding the strategic partnership between portfolio holding Velo3D (VELO) and Aurelia Technologies. The deal brought to light Velo’s corporate strength in metallurgy and its applications for the aerospace, defense and energy industries. Shares of VELO were up 34% on Thursday ahead of the SpaceX IPO as the firm plays a significant role in the manufacture of the Raptor engine. SpaceX has purchased more than 20 Velo3D printers in order to produce performance parts for those engines.
The shares traded above the portfolio’s $30 target on Thursday but have traded lower overnight. The portfolio will try to make a sale at $30 or better on Friday, while taking our target price up to $36.
Rocket Lab to Join Nasdaq 100
On Friday morning, we learned that portfolio holding Rocket Lab (RKLB) would be moving into the Nasdaq 100 along with CoreWeave (CRWV) and three other names on Monday, June 22. Among the five names set to exit the highly prestigious and highly followed index will be cyber-security platform provider Zscaler (ZS).
Other Recent Portfolio News
Planet Labs (PL)
On Thursday, analyst Noah Poponak of Goldman Sachs reiterated a “hold” rating on (PL) while increasing his target price from $20 to $22. Poponak is rated at four stars out of five by TipRanks. Over the past two years, Post has had a 54% success rate with a 13% average return.
Sidus Space (SIDU)
On Thursday, Greenland Energy (GLND) announced the appointment of Carol Craig to the company’s board, effective June 5. Craig was appointed as a Class I director to fill the vacancy created by the resignation of Daniel McCabe. She will also serve as a member of the board’s audit committee. Craig happens to be the founder, CEO and chair of the board of directors of portfolio holding Sidus Space (SIDU).
Thursday’s Intention vs Thursday’s Actual Trade
No trades for Thursday.
Friday’s Intentions
Sell 10 shares of VELO at $30 or better.
Current Positions
Long 100 shares of (ALTO) at $5.79. Target price: $9. Last sale: $5.75.
Long 3 shares of (AMZN) at $258.0567. Target price: $324. Last sale: $245.05.
Long 60 shares of (EVLV) at $5.9895. Target price: $8.50. Last sale: $6.25.
Long 200 shares of (OCUL) at $8.271. Target price: $11. Last sale: $8.85.
Short one OCUL $11 September 18 call at $1.65. Last sale: $1.39.
Short one OCUL $9 July 17 call at $0.90. Last sale: $1.30.
Long 150 shares of (ONDS) at $9.7624. Target price: $14. Last sale: $10.09.
Long 15 shares of PL at $34.32. Target price $55. Last sale: $34.88.
Long 10 shares of (PLTR) at $137.906. Target price: $194. Last sale: $132.44.
Long 8 shares of RKLB at $77.9288. Target price: $185. Last sale: $120.81.
Long 150 shares of SIDU at $3.0909. Target price: $6. Last sale: $4.58.
Long 100 shares of (SNAP) at $5.625. Target price: $7.50. Last sale: $5.36.
Short one SNAP October 16 $6 call at $0.87. Last sale: $0.64.
Long 150 shares of (SOFI) at $15.9035. Target price: $24. Last sale: $16.90.
Short one SOFI August 21 $20 call at $1.02. Last sale: $0.89.
Long 35 shares of VELO at $12.3231. Target price: $36. Last sale: $28.83.
Cash: $194.07.
Portfolio Value: $12,330.51, +23.3% from inception on March 24.
At the time of publication, Guilfoyle was long ALTO, AMZN, EVLV, OCUL, ONDS, PL, PLTR, RKLB, SIDU, SNAP, SOFI and VELO.
