Why Rocket Lab Stock Crashed Today
Ever since Rocket Lab (NASDAQ: RKLB) founder Peter Beck promised in March that his company would design a new rocket that will be reusable (like the rockets built by SpaceX already are), investors have been waiting to see what the new "Neutron" rocket would look like. As anticipation built following that announcement, the price of the tiny space stock more than doubled at the all-time high it hit in September. For that matter, as late as the end of November, Rocket Lab was still up some 50% relative to where it was trading before the initial plans for the Neutron were first announced.
But then the big reveal came Thursday, and Rocket Lab stock sank sharply. After losing a total of 19% since Nov. 30, the stock was down a further 13.6% as of 2:45 p.m. ET Friday.
Image source: Rocket Lab.
Source Fool.com
