Rocket Lab Shares Pull Back Following Record Rally

After a spectacular surge to unprecedented highs, Rocket Lab USA shares experienced a sharp reversal on Friday. The stock closed significantly lower, despite the company’s recent announcement of a historic $816 million government contract. Market participants attributed the downturn to profit-taking activity, which was reportedly amplified by news of insider transactions and concerns regarding the stock’s elevated valuation.

The backdrop to this pullback is a period of extraordinary expansion in the company’s market value. The catalyst for the recent bullish run was a major award from the U.S. Space Development Agency (SDA) to construct 18 satellites. This contract represents the single largest order in Rocket Lab’s corporate Read more...