Rocket Lab (RKLB) stock soared on June 29 after the company announced a definitive agreement to acquire Iridium Communications (IRDM) for $54 per share.
As investors cheered the cash-and-stock deal that values IRDM at an enterprise value of $8 billion, RKLB rallied past its 100-day moving average (MA), signaling shifting momentum in favor of the bulls.