Why Rocket Lab Stock Is Falling Today
Rocket Lab USA (NASDAQ: RKLB) topped expectations in the first quarter but provided a subdued outlook for the quarter to come. Investors were disappointed, sending Rocket Lab shares down 12% at the open and down 9% as of 11:30 a.m. ET.
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Rocket Lab is a leader among a generation of space stocks that have emerged to challenge the status quo in recent years. The company lost $0.12 per share in the first quarter, or about $30 million, on sales of $123 million. The numbers were in line with the company's guidance for a $33 million to $35 million loss on revenue of between $117 million and $123 million. Generally accepted accounting principles (GAAP) gross margin was 28.8%, better than the 25% to 27% guide.
Source Fool.com
