Rocket Lab Tokenized Stock Jumps 11% While Open Interest Slides

Rocket Lab's tokenized stock (RKLB) ripped 11.31% higher over the past 24 hours, changing hands at $53.72 as of 2:04 p.m. ET on Nov. 7. The rally came alongside a derivatives picture that looked anything but clean. Open interest dropped 17.53% over the same window, landing at 110,544.62 contracts.

Order flow leaned bearish in the latest one-hour reading: buy volume of 666 stacked against sell volume of 1,103, for a taker buy/sell ratio of 0.6033. Funding sat flat at 0.0000%. The token's 24-hour range stretched from $46.64 up to $54.01.

On the chart, RKLB is holding above its seven-day simple moving average of $52.54 and its 20-day simple moving average of $53.56. It is still stuck below the 26-day exponential moving average of $55.72 and the 50-day simple moving average of $62.14. The relative strength index read 46.45, and the moving average convergence divergence came in at -2.3877.

Cantor Fitzgerald analyst Andres Sheppard kept an Overweight rating on the stock on Nov. 4, according to tokenpost.com. He cited Rocket Lab's successful 98th Electron mission and steady progress on the Neutron rocket, and set a $122 price target. Sheppard expects Neutron's first launch in the second quarter of 2027.

The Neutron program stays in the spotlight, with earlier coverage flagging the company's dome work and its first-launch timeline. For now, the tokenized stock is squeezing out gains even as traders trim open positions.