Why Rocket Lab Stock Is Sinking Today
After explosive gains yesterday, Rocket Lab (NASDAQ: RKLB) stock is coming down to Earth a bit in Thursday's trading. The company's share price was down 5.3% as of 2:45 p.m. ET.
Following the big earnings-driven rally for Rocket Lab yesterday, Cathie Wood's Ark Invest firm has moved to take some profits on the stock. The high-profile investor isn't the only one selling shares after yesterday's huge gains, and the uptick in selling action is pushing the stock lower today.
Ark Invest and its CEO, Cathie Wood, have been among the most vocal champions for Rocket Lab stock, and the confidence paid off with explosive gains for the company's share price yesterday. Rocket Lab stock closed out yesterday's trading up 28% and had been up as much as 53% earlier in the daily session thanks to stronger-than-anticipated Q3 results.
Source Fool.com
