Why Rocket Lab Stock Skyrocketed Today but Fell Back to Earth
Shares of Rocket Lab (NASDAQ: RKLB) opened Friday's trading with big gains, but it ended the daily session only modestly in the green. The space-tech company's share price rose 1% in today's trading, but it had been up as much as 12.9% earlier in the day.
It published its second-quarter results after the market closed yesterday and initially saw huge bullish momentum in Friday's session. But the stock lost ground as investors took profits and put more focus on the business' wider-than-expected loss last quarter. On the heels of today's modest post-earnings gain, Rocket Lab stock is now up roughly 75% year to date.
Source Fool.com
