After peaking near $151 in May, the stock collapsed toward the mid-$60s, a drawdown of more than 50% from its 52-week high, wiping out the entire year's gains and then some.
Rocket Lab USA Inc (NASDAQ:RKLB) shares rose about 3% on Wednesday after the company secured a $266 million contract from the US Air Force and US Space Force to provide suborbital launch services. The firm-fixed-price contract covers the launch of 12 suborbital vehicles, with options for six additional launches.
Rocket Lab's stock price jumped more than 3% after the company secured a major contract from the U.S. government. RKLB climbed to $72.15, about 12% above its lowest level this month.
Rocket Lab Corp (NASDAQ:RKLB) stock is up 3% at $71.17, after the aerospace name landed a $266 million contract with the U.S. Air Force, providing 12 suborbital vehicles across six launches.
In the latest trading session, Rocket Lab Corporation (RKLB) closed at $65.74, marking a -2.78% move from the previous day.
Prediction markets are flashing warning signs for Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction), even as Wall Street analysts remain overwhelmingly bullish on the space company.
Rocket Lab's stock price plunged more than 12% on July 16, hitting its lowest level since April 13. The decline has pushed the shares down 55% from their peak this year, wiping out nearly half of the company's market value as its valuation fell from $86 billion to around $40 billion.
Shares of Rocket Lab Corp (NASDAQ:RKLB) are moving 4% higher to trade at $79.80 this afternoon, a brief reprieve from its longer-term drawdown on the charts.
Rocket Lab's "Hungry Hippo" fairing is one of the most innovative ideas in reusable rockets because it keeps the nose cone attached to the booster. It could potentially eliminate the cost and hassle of recovering or replacing a major piece of hardware after every launch.
In the most recent trading session, Rocket Lab Corporation (RKLB) closed at $81.04, indicating a -1.83% shift from the previous trading day.
Rocket Lab TodayRKLBRocket Lab$80.10 -2.46 (-2.97%) As of 10:34 AM Eastern This is a fair market value price provided by Massive. Learn more.52-Week Range$37.57▼$151.00Price Target$108.24Add to WatchlistRocket Lab NASDAQ: RKLB has been through a punishing stretch, to say the least.
Blue Origin is reportedly targeting a $130 billion private-market valuation, which would be just a fraction of SpaceX's nearly $2 trillion market capitalization.