Why Rocket Lab Stock Sank This Week
Rocket Lab (NASDAQ: RKLB) stock lost ground across the last week of trading. The company's share price declined 9.5% across the stretch, according to data from S&P Global Market Intelligence.
Rocket Lab stock fell in conjunction with a series of filings submitted to the Securities and Exchange Commission (SEC) that showed company insiders had recently sold a significant amount of stock. But even with the recent pullback, the company's share price is still up roughly 346% across 2024's trading.
Rocket Lab kicked off this past week's trading with a round of big selloffs following insider selling disclosures with the SEC. The company submitted filings on Nov. 27 that showed four company insiders had sold shares in the week of the filing. On Nov. 25, Chief Operating Officer Frank Klein, Chief Financial Officer Adam Spice, and General Counsel Arjun Kampani sold 35,968 shares, 62,511 shares, and 28,562 shares, respectively. The next day, board Director Merline Saintil sold 50,000 shares.
Source Fool.com
