Rocket Lab USA (RKLB)

(Note the short timeframe.)  Closest competitor to SPCX, but 2 years behind on a reusable rocket. This holding is in the higher beta part of her portfolio.

It just joined the Nasdaq 100, but shares fell 11% today, because it's a source of funds for SpaceX. They launched more than 20 satellites last year and will do even more this year. Though cheaper than SpaceX, it trades at 65x sales, not earnings. Shares are up 288% the past year. Don't chase it. 

All space stocks are down today after a Jeff Bezos rocket exploded in a test yesterday. It has no effect on him. Explosions are expected in the test phase. Maybe investors are freeing some dry powder, perhaps to buy SpaceX.

Launch capacity should become very constrained in next 2-3 years, even for broadband. If data centre use can materialize, pretty significant upside. Its new rocket, Neutron, will be much more competitive on price. Looking for cost/kg to go from $3k to $300, and we're already heading in that direction. No dividend.

Is a good spec, but the company loses money. 

Skeptical because it's a company losing money, but many companies want to launch rockets, so there's demand.

RKLB had a decent quarter, is getting some stock mojo back after its prior weak quarter (and short attack) and has signed some decent new contracts. It is still an 'expensive' stock in a still-uncertain environment. Cash flow remains highly negative and losses are expected to continue for at least two years. We like the company...less so the valuation. We would be OK with a starter position (1/4 size, perhaps) for very aggressive investors.
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Well positioned for explosion in commercial space activity as launch costs come down. Launch business will have a new product later this year, a direct competitor for the mid-range Falcon 9 from SpaceX. The other 2/3 of their business involves space systems, which is building satellites for customers. No dividend.

Really likes the scrappy, technical, and resourceful CEO. Reminds him of Elon Musk in the early days.

It's losing money, but generating $364 million in revenue the past year. They plan to launch a reusable rocket next year.