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Barchart
Wajeeh Khan

IRDM Stock Soars as Investors Cheer Rocket Lab's Acquisition of Iridium

Iridium Communications (IRDM) stock ripped higher on June 29 after Rocket Lab (RKLB) said it will acquire the satellite operator for $54 per share.

The announcement helped IRDM break above its major moving averages (MAs), with an RSI in the mid-60s indicating intense buying pressure.

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