Rocket Lab Stock Holds Near $100 as Iridium Deal Fuels SpaceX Rivalry

Rocket Lab shares stabilized near $100-$101.65 by early July after surging from $4.54 in mid-2024 on the June 29 announcement of its $8 billion acquisition of Iridium Communications. The cash-and-stock deal, priced at $54 per share and set to close mid-2027, adds Iridium’s 66-satellite network, 2.56 million customers, and L-band spectrum, accelerating Rocket Lab’s vertical integration and recurring-revenue profile versus SpaceX. Analysts lifted price targets to $120-$130 while a $3.6 billion bridge loan raised dilution and execution concerns, leaving investors weighing long-term upside against an 89x sales valuation.