What is the bear case for Rocket Lab (RKLB)?


Positions: I currently own 165 shares of RKLB at an average cost of $6.21 per share.

There is a lot of enthusiasm around this company. I've seen a lot of very bullish opinions saying that RKLB is a very rare growth stock opportunity, that it will probably return at least 10X in coming years, etc.

There's certainly a lot to like about this company, but there's a voice in the back of my mind that says “Is this too good true to be true?”. So I want to understand the bear case for this company. I want to hear the case for how RKLB perhaps even fizzles out and goes to zero. I don't want to be the type of investor who gets caught up in the hype around a stock, only to end up bag-holding down the road.


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