Why Rocket Lab Stock Plummeted This Week
Rocket Lab stock lost 25% of its value in just a week of trading.
Why Rocket Lab Stock Plummeted This Week
Overview
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 SpaceX'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.
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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.
