Rocket Lab Corporation (NASDAQ:RKLB) was among the stocks Jim Cramer covered on Mad Money as he discussed the wave of IPOs being the market’s possible biggest threat. When a caller mentioned that they have been holding the stock for a while, Cramer stated:
I feel exactly like you, exactly like you. And when they had a problem two weeks ago, the stock barely… went down for a day, and that’s about it. I think that Rocket Lab is a winner, and that is a speculative stock that I am blessing right here.
A stock market graph. Photo by Alesia Kozik on Pexels
Rocket Lab Corporation provides launch services, spacecraft design, manufacturing, and on-orbit management solutions. Cramer mentioned the stock during the April 16 episode and said:
Space is easier because of the mammoth IPO of SpaceX brought to us soon by Elon Musk, maybe later this summer. I think it’s going to be a huge hit. In the interim, anything that looks like SpaceX should go higher, including Rocket Lab. I’m blessing Rocket Lab because it’s got a $1.85 billion backlog, giving them terrific visibility in the future, although it was up a lot today. Needless to say, to get your hands on any SpaceX might be difficult, but I think it’ll be a better performer than Tesla.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years