Karman Space & Defense's selloff ignores strong results, and people will get rich off this company in time. Revenue rose 51% year over year, partly through acquisitions, and backlog grew 61%, yet the stock fell 12% after months of decline. Per a quoted earnings summary, legacy segments grew about 25% organically, while adjusted EBITDA margins slipped to 29.6% on lower-margin acquired contracts. x.com 

Karman Holdings, along with Kratos, should be one of the real winners of the space-sector boom. Both have massive space programs and revenues significantly higher than some of the space stocks that have already exploded. x.com 

Karman Space & Defense is expensive against its cash earnings. At $33.05 it trades at 34x cash earnings and 21x next year's, while aerospace and defense suppliers usually get 16x. Fair value is $20.73–$26.38, about 16x next year's cash earnings give or take 12%, putting the stock 25% above the high end. The forward read leans on forecasts, sitting 90% above the trailing one. This is a levels-only read off reported earnings and revenue estimates, not fundamental work. x.com 

Karman Holdings is an overlooked, profitable space stock with a lot of catching up to do if the market keeps chasing space. Its presentation mentions Golden Dome several times, which the market seems to have missed. It is in a falling wedge and held support earlier this month. x.com  x.com 

Karman Holdings' ownership concern is outdated: control is no longer as concentrated as it was at or after the IPO. x.com 

Applied Aerospace & Defense offers exposure to growing defense, space and precision-strike spending through a business still very early in its public-market story. x.com 

The space trade is where AI was in 2022: a $613 billion economy in 2024 with a multiyear tailwind that most retail investors do not own. Rocket Lab is the only public US rocket company at scale; Iridium offers pole-to-pole satellite coverage and real cash flow; Karman supplies parts to every rocket launched; Planet Labs provides daily satellite imagery and just had its first profitable year; and AST SpaceMobile delivers direct satellite-to-smartphone broadband. x.com 

Rocket Lab should see money flow back once SpaceX's rich valuation corrects. SpaceX's listing day could be sell-the-news, pulling Rocket Lab back to $90-100 at most, but at roughly 90-100x sales it is valued about the same as SpaceX at around 115x. With expected Nasdaq inclusion on June 22 and capital rotating from SpaceX into quality space stocks, a lower-high move toward the $130 target banks just raised is possible. x.com  x.com 

Rocket Lab delivered a really bullish report. Per @allday_stocks, Q1 revenue of $200.3M beat the $189.41M estimate, up 63.5% year on year, with a record 38.2% GAAP gross margin and backlog up 20.2% quarter on quarter to $2.2B. It sold more launches in Q1 than in all of 2025, guided Q2 revenue to $225-240M versus $205.18M expected, and Neutron remains on track to debut later this year, with defense momentum tied to Golden Dome and hypersonics. x.com 

Rocket Lab's after-hours selloff on a record quarter is a buying opportunity because it is becoming a space prime, one of only two full-stack space companies alongside SpaceX. Revenue hit a record $234M, up 62%, backlog a record $2.36B, up 137%, with more than $1B of Q3 contracts signed and $2.4B of cash. On VICTUS HAZE it launched in 16h42m against a 24-hour window. CEO Peter Beck said Neutron delay coverage is exaggerated. Rating stays Overweight with a $130 target. x.com  x.com  x.com