Rocket Lab (NASDAQ: RKLB) stock suffered a substantial pullback over the last week of trading. The company's share price sank 25.1% across a stretch that saw the S&P 500 decline 2.6% and the Nasdaq Composite fall 4.7%.
Rocket Lab's valuation was under pressure this week as investors reacted to Blue Origin's rocket explosion the previous Friday and repositioned ahead of ****** eX's upcoming IPO. The company's stock also saw a substantial pullback in response to the Bureau of Labor Statistics' May jobs report. Despite this week's big sell-off, Rocket Lab's share price is still up roughly 58% year to date.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Space tech stocks got hit with big sell-offs this week. Investors continued to reduce exposure to the face following the launchpad explosion of Blue Origin's New Glenn rocket at Cape Canaveral, Florida on May 28. In addition to that pressure, investors reacted negatively to some news about ****** eX's IPO.
SpaceX is set to go public on June 12, and its upcoming public debut has been a huge catalyst for other ****** e tech stocks. While excitement surrounding ****** eX's IPO has helped juice valuations across the ****** e industry, news that Elon Musk's company had lowered its planned IPO range from roughly $2 trillion to $1.77 trillion dampened excitement for ****** e tech stocks this week.
Rocket Lab's valuation was under pressure this week as investors reacted to Blue Origin's rocket explosion the previous Friday and repositioned ahead of ****** eX's upcoming IPO. The company's stock also saw a substantial pullback in response to the Bureau of Labor Statistics' May jobs report. Despite this week's big sell-off, Rocket Lab's share price is still up roughly 58% year to date.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Space tech stocks got hit with big sell-offs this week. Investors continued to reduce exposure to the face following the launchpad explosion of Blue Origin's New Glenn rocket at Cape Canaveral, Florida on May 28. In addition to that pressure, investors reacted negatively to some news about ****** eX's IPO.
SpaceX is set to go public on June 12, and its upcoming public debut has been a huge catalyst for other ****** e tech stocks. While excitement surrounding ****** eX's IPO has helped juice valuations across the ****** e industry, news that Elon Musk's company had lowered its planned IPO range from roughly $2 trillion to $1.77 trillion dampened excitement for ****** e tech stocks this week.
5 months ago
