Rocket Lab shares plunged 13.93% to about $123 Monday, trimming its year-to-date gain to roughly 79% after a sector-wide pullback. The company reported first-quarter revenue of $200.3 million and secured record new launch contracts, but investors flagged valuation concerns following the recent rally.
Rocket Lab shares fell 13.93% to around $123 on Monday, marking one of the stock’s largest single-day drops this year. The decline narrowed its year-to-date rally to approximately 79%, as space sector equities saw profit-taking with peer names down between 9% and 13%.
On May 7, Rocket Lab reported first-quarter revenue of $200.3 million and announced record new launch contracts, highlighting robust demand for its orbital launch services and expanding space systems business. These results reinforce the company’s operating momentum despite the share price volatility.
Investors shifted focus from Rocket Lab’s operating gains to valuation levels after the sharp spring rally, driving the pullback. With the imminent SpaceX IPO intensifying competition and market scrutiny, sentiment toward high-growth space stocks may remain cautious in the near term.
Benzinga
