Why Rocket Lab Stock Dropped Today
Rocket Lab (NASDAQ: RKLB) closed Monday higher, but it didn't last. Shares of the small rocket maker tumbled 11% through 10:45 a.m. ET this morning despite encouraging words from Cantor Fitzgerald, which reiterated its "overweight" rating on the rocket stock in a mid-morning note yesterday.
Image source: Getty Images.
Cantor's note was curious. On the one hand, the Wall Street analyst spent most of its time singing Rocket Lab's praises: Rocket Lab just reported its highest-ever revenue quarter. The rocket company has launched 87 rockets successfully, more than any other American company not named SpaceX (or OK, ULA). Rocket Lab plans to launch 27 more rockets this year alone, including commercial Electrons, military "HASTE" rockets, and even a Neutron or two.
Source Fool.com
