Matt Frankel

That gives it a price to earnings of less than $12 even after this move.

With revenue per seat mile, essentially how much they're making off each passenger rising by almost 10% as travelers pay for things that were previously free.

I would say that over the years, Southwest's biggest strength has been its best-in-breed balance sheet.

It's got under $5 billion of total debt compared with a $25 billion market cap.

For context, American Airlines has about a $9 billion market cap and $43 billion in debt.

With the adoption of this upcharge model, it has more profit potential and needle-moving potential than its competitors.

It's an interesting company to me right now.

I wouldn't necessarily say that this was expected, but delays like this and incidents like this are par for the course for all of these space companies.

Just looking at the Neutron rockets development itself, it was initially announced in 2021 for a proposed 2024 launch.

That was then delayed until mid-2025 because of engine development issues.

Then it was delayed to late 2025.

Then it was delayed to early 2026, and now who knows when it's going to be pushed back to.

This is the fifth delay that I know of with the Neutron rocket itself.

Like John said, this happens with virtually every major rocket, they push their parts until they break.

If you invest in Rocket Lab or any of these other space companies, one of the few things you can be sure of is that this won't be the company's last setback in developing a new product.

Yeah, I agree.

It's absolutely a real business.

I don't own Rocket Lab or any other, at least, direct space stocks yet.

You can make the argument that some of the data center companies I'm invested in have a lot to do with the space economy.

But no direct space investments.