Shay Boloor Loads Up on Rocket Lab Stock, Says He Understands the Starlink Premium, but Market Is ‘Absolutely Underappreciating’ the SpaceX Rival

Futurum Equities‘ chief market strategist Shay Boloor loaded up on Rocket Lab Corp. (NASDAQ:RKLB) on Thursday, believing the market is underappreciating a business that already sells satellites and components across the industry, while Space Exploration Technologies Corp. (NASDAQ:SPCX) commands a far higher valuation. SpaceX’s Premium Is Too Big In a post on X, Boloor put SpaceX’s valuation at about $2 trillion versus about $35 billion for Rocket Lab, a gap of about 60 times, while revenue is only about 25 times larger. He added that Rocket Lab trades at less than half of SpaceX’s sales multiple while still growing 62%. “I totally understand how SpaceX deserves a premium for Starlink, AI and its launch dominance,” Boloor wrote, but Rocket Lab “already has a Space Systems business selling satellites and components across the industry which I think the market is absolutely underappreciating.” He said he “added a ton” of Rocket Lab stock on Thursday, when the shares fell more than 6%. The stock has fallen 27.29% so far this year and 20.24% over the past year. $SPCX is valued at ~$2T versus ~$35B for $RKLB which is ~60x higher despite generating only ~25x revenue with Rocket Lab trading at less than half sales multiple while still growing 62%.I totally understand how SpaceX deserves a premium for Starlink, AI and its launch dominance… https://t.co/KWY4Upg8mx pic.twitter.com/8S7S1eCYXs— Shay Boloor (@StockSavvyShay) October 15, 2026 Read Also: Cathie Wood Buys $13.4 Million of CoreWeave Stock as Jensen Huang Says ‘Strength Is Improving Every Day,’ Ark Trims Amazon and Palantir Neutron Delay Clouds the Launch Case Rocket Lab pushed the first flight of its Neutron rocket into 2027 late Wednesday, citing a manufacturing flaw in a carbon-composite propellant dome on the first stage. Boloor argued that “if Neutron starts flying in 2027, then Rocket Lab becomes an even stronger alternative for both launch and spacecraft,” and that the “valuation gap” with SpaceX “could narrow significantly as execution catches up.” Neutron contributed nothing to Rocket Lab’s record second-quarter revenue of $234 million. Rocket Lab’s $8 billion cash-and-stock purchase of Iridium Communications Inc. echoes SpaceX’s playbook of owning every layer of the business and selling directly to the end customer. SpaceX Eyes Wireless and a Tesla Merger Elon Musk’s forecast that SpaceX could top $100 trillion within a decade leans on more than rockets, and its $8 billion deal earlier this month for a nationwide low-band spectrum portfolio could help Starlink Mobile reach ordinary smartphones. Meanwhile, analysts expect a merger with Tesla Inc. to come as early as December. Analysts rate both stocks a ‘Buy’, with average price targets implying 56.3% upside for Rocket Lab and 52.7% for SpaceX, according to Benzinga Pro. Price Action: Rocket Lab’s shares closed 6.64% lower on Thursday at $55.25 and fell 0.24% in extended trading. SpaceX closed 2.33% lower at $148.62 and fell 0.28% in after-hours. Benzinga Edge rankings indicate Rocket Lab’s stock has a Momentum score in the 18th percentile and a negative price trend across the short, medium, and long term. See More: Top Momentum Stocks Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo Courtesy: PJ McDonnell on Shutterstock.com