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Barchart
Barchart
Wajeeh Khan

The $8 Billion Reason Rocket Lab Is Up Today

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.

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