Rocket Lab Announces a Big Acquisition That Could Be Problematic for SpaceX
Starlink has been a gem for SpaceX, but it could face an influx of competition in the near future.
Overview
Space Exploration Technologies (NASDAQ: SPCX), also known as SpaceX, went public last month. While its overall business is unprofitable, the area doing well is connectivity and the internet, which includes its Starlink subsidiary. It provides satellite internet service.
Competition, however, may be ramping up in that space, particularly with another rocket company, Rocket Lab (NASDAQ: RKLB), announcing a major acquisition. And that could be a big problem for SpaceX stock.
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Originally published at www.fool.com.
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