Why Rocket Lab Stock Is Soaring Today
Rocket Lab has bounced back from yesterday's rout.
Overview
After a big sell-off yesterday, Rocket Lab (NASDAQ: RKLB) share price is seeing strong gains in Thursday's trading. The space stock was up 8.3% as of 2:25 p.m. ET. The S&P 500 was up 1.4% at the same point in the session, and the Nasdaq Composite was up 2.6%. Shares had been up as much as 9.7% earlier in the day.
Rocket Lab announced a significant new contract today, and the news is helping its stock bounce back from yesterday's pullback. Bullish momentum for the broader market is also playing a big role in pushing its share price higher.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.