Why Rocket Lab Stock Dropped Then Popped Today
Rocket Lab (NASDAQ: RKLB) stock got thrown for a loop Friday morning, first crashing more than 18% in response to a disappointing earnings report, then recovering as investors took time to digest the news. As of 11:30 a.m. ET, Rocket Lab is up 2%.
Analysts had forecast the small rocket company would lose $0.07 per share in the fourth quarter of 2024, on sales of $130.6 million. In fact, revenue exceeded targets at $132.4 million, but the loss was bigger than expected: $0.10 per share.
"2024 was a record-setting year for Rocket Lab," said CEO Peter Beck, "with our highest annual revenue ever posted of $436.2 million and a record Q4 2024 revenue of $132.4 million -- a 382% increase compared to Q4 2021."
Source Fool.com
