Why Rocket Lab Stock Fell This Week
The CEO of Rocket Lab USA (NASDAQ: RKLB) sold about $22 million worth of company stock. Investors tend not to like insider shares, and Rocket Lab shares did fall as a result, down nearly 15% for the week as of mid-day Thursday, according to data provided by S&P Global Market Intelligence.
Rocket Lab is part of a new generation of space stocks that have hit the markets in recent years, and the company has established itself as one of the better operators among that group. Rocket Lab has a steady cadence of launches and was able to generate $62.05 million in sales in its most recent quarter, though it is still operating at a loss.
Founder and CEO Peter Beck took advantage of a post-earnings window where insider sales are allowed. In a regulatory filing released this week, the company disclosed that Beck sold 3.6 million shares, raising a little more than $20 million.
Source Fool.com
