Rocket Lab Corporation (RKLB): A Bull Case Theory

We came across a bullish thesis on Rocket Lab Corporation (RKLB) on Steve Wagner’s Substack. In this article, we will summarize the bulls’ thesis on RKLB. Rocket Lab Corporation (RKLB)’s share was trading at $26.79 as of 30^th May.

A rocket launching into the night sky, carrying a satellite payload.

Rocket Lab (RKLB) has taken a transformative step beyond its core business of launching rockets by acquiring GEOST, a company specializing in advanced sensor payloads for satellites—particularly those used in missile tracking and intelligence operations. This strategic acquisition positions Rocket Lab as a vertically integrated, end-to-end provider for national security space missions, expanding its role from launch provider to full-spectrum defense contractor.

GEOST’s technology is vital to space-based surveillance and defense, and by bringing this capability in-house, Rocket Lab enhances its ability to serve U.S. government agencies with complete mission solutions. The move is especially significant as it allows RKLB to challenge entrenched industry players like Lockheed Martin and Northrop Grumman in the lucrative and strategically important national security space. Despite the game-changing nature of this acquisition, the market has largely overlooked its disruptive potential, creating a compelling opportunity for forward-looking investors.

With rising geopolitical tensions and growing demand for space-based defense infrastructure, this expansion into sensor payloads provides Rocket Lab with a differentiated edge and deeper entrenchment in defense budgets. It also signals RKLB’s ambition to capture more of the value chain and become a critical national asset, not just a launch service. The company’s ability to innovate across both hardware and mission services could significantly enhance its long-term growth trajectory. F

or investors focused on strategic inflection points and underappreciated catalysts, this bold move into payload manufacturing makes RKLB one to watch closely as it matures into a next-generation aerospace and defense powerhouse.

Previously, we have covered RKLB in May 2025 wherein we summarized a bullish thesis by the same author. Rocket Lab (RKLB) began 2025 with strong momentum, reporting a 32% year-over-year revenue increase to $122.6 million, driven by five successful launches and robust growth in its high-margin Space Systems segment. The company’s $1.07 billion backlog, expanding defense contracts, and the upcoming Neutron rocket positioned it as a credible, vertically integrated space and defense partner. Despite short-term losses from R&D, RKLB’s diversified business and solid liquidity made it a compelling long-term investment. Since our last coverage, the stock is up 23% as of 30^th May.