Space stocks are catching a strong bid at midday Thursday, June 11. Virgin Galactic (NYSE:SPCE) stock is leading the pack, up 20% intraday on a fresh liquidity catalyst, while sector peers ride a broader wave of enthusiasm into a highly anticipated SpaceX IPO window.

Why recommend buying a stock that is 23% overpriced?

View Rocket Lab Corporation RKLB stock quote prices, financial information, real-time forecasts, and company news from CNN.

Here’s the uncomfortable truth for anyone who wants exposure to the space economy: the company that dominates it isn’t public. SpaceX prints launches, prints Starlink revenue, and prints headlines. You can’t buy it.

Few stocks have rewarded believers like Rocket Lab (NASDAQ:RKLB) over the past 12 months. The shares have climbed 356.85% in a year, and the company just posted its first ever $200 million revenue quarter.

Here’s the real story behind Rocket Lab’s astronomical one-year run, and it has nothing to do with a single earnings report. If you held Rocket Lab (RKLB) over the past year, congratulations. You’ve probably stopped checking your brokerage account out of sheer vertigo.