u/Extension_Emu5973

RKLB has $680M TTM revenue, negative net income, no operational Neutron rocket yet, and no Starlink-like recurring revenue. Its market cap is 13x LUNR with lower forward revenue, and it trades above 100x price/sales. The extreme valuation multiple (81B market cap vs. $680M revenue) creates a mean-reversion opportunity, especially if the SpaceX IPO acts as a catalyst for sector-wide repricing. Shorting RKLB via puts targets a correction as fundamentals fail to justify the current price, particularly after the SpaceX IPO euphoria fades. RKLB could continue rallying on momentum and retail hype; community comments note that “overvalued” does not mean “soon to fall,” and the company’s end-to-end space capabilities may command a premium.