Rocket Lab shares rose 3% to $71.98 after ARK Invest bought 359,612 shares across three exchange-traded funds for approximately $25.1 million, bringing its holdings above 3.2 million shares valued near $225 million. CEO Peter Beck defended the proposed $8 billion cash-and-stock acquisition of Iridium Communications, saying its L-band spectrum cannot be replicated at any price. Cantor Fitzgerald reaffirmed an Overweight rating and a $122 price target, identifying Neutron’s first flight as the most material catalyst and saying the Iridium transaction could approximately double consolidated revenue. Neutron is designed to carry approximately 13,000 kilograms per flight, versus about 300 kilograms for Electron, with each mission expected to generate $50 million to $55 million. The Iridium transaction is expected to close around mid-2027 subject to regulatory approvals, while Neutron’s initial launch is targeted for the fourth quarter of 2026 but could slip into 2027 if qualification testing takes longer.