Why Rocket Lab Stock Fell Out of Orbit in September
The pristine two-year track record of successful launches by Rocket Lab USA (NASDAQ: RKLB) went up in smoke in September, and the rocket wasn't the only thing that crashed. Shares of Rocket Lab fell 30.6% for the month, according to data provided by S&P Global Market Intelligence, as investors recalibrated the company's trajectory.
Rocket Lab has established itself among other space stocks thanks to its ability to reliably launch payloads into space. But rocket science is hard, and eventually all companies must deal with setbacks.
In September, an Electron rocket launched from the company's New Zealand complex experienced an issue 150 seconds into its flight that forced Rocket Lab to terminate the mission. The rocket and its payload were both destroyed, sparking an automatic Federal Aviation Administration investigation as well as an internal company probe.
Source Fool.com
