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Why Rocket Lab Stock Popped on Tuesday

TheMotleyFool

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Space company Rocket Lab USA (NASDAQ: RKLB) enjoyed a modest stock price bump in early trading on the Nasdaq Tuesday, rising 3.7% through 10 a.m. ET. The curious thing is that this bump came after what initially appears to be bad news.

Last night Rocket Lab announced it will delay its next Electron rocket launch.

Rocket Lab had an Electron all ready to launch a handful of Internet of Things (IoT) satellites into orbit for customer Kineis today. The company had to postpone launch to sometime "in the coming days," however. Management noted the reason for this was a "COLA report."

Source Fool.com

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