Why Rocket Lab Stock Fell in August
Rocket Lab USA (NASDAQ: RKLB) met analyst expectations for the quarter but forecast a slower-than-expected next few months. Investors largely hit the eject button, sending Rocket Lab shares down 14.4% for the month, according to data provided by S&P Global Market Intelligence.
Rocket Lab is one of a handful of space stocks focused on delivering payloads to orbit. Unlike some of its rivals, the company has a track record of successful launches and steady revenue streams for investors to consider.
The company lost $0.10 per share in the second quarter on revenue of $62.05 million, within the range of analyst expectations for a $0.09-per-share loss on sales of $61.79 million. Rocket Lab completed three successful launches in the quarter and also had at least 17 spacecraft featuring company components deployed into orbit.
Source Fool.com
