Why Rocket Lab Stock Is Sinking Today
Rocket Lab USA (NASDAQ: RKLB) stock is falling in Monday's trading. The company's share price was down 11% as of 2:30 p.m. ET. Meanwhile, the S 500 index was up 0.1%, and the Nasdaq Composite index was up 0.8%.
Rocket Lab is losing ground in today's trading following recent filings with the Securities and Exchange Commission (SEC) showing that company insiders had recently sold stock. Even with today's pullback, the stock is still up more than 340% across 2024's trading.
On Nov. 27, Rocket Lab submitted a series of filings to the SEC detailing stock sales by four company insiders. Chief Operating Officer Frank Klein sold 35,968 shares on Nov. 25. The same day, CFO Adam Spice sold 62,511 shares, and general counsel Arjun Kampani sold 28,562 shares. The following day, board director Merline Saintil sold 50,000 shares. The latest round of stock sales follows selling moves made by other company insiders on the heels of explosive growth for the company's valuation.
Source Fool.com
