{"id":63150,"date":"2023-09-19T18:48:23","date_gmt":"2023-09-19T22:48:23","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/rocket-labs-stock-dives-after-latest-launch-ends-in-failure\/"},"modified":"2023-09-19T18:48:29","modified_gmt":"2023-09-19T22:48:29","slug":"rocket-labs-stock-dives-after-latest-launch-ends-in-failure","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=63150","title":{"rendered":"Rocket Lab\u2019s stock dives after latest launch ends in failure"},"content":{"rendered":"
\n

Shares of Rocket Lab USA Inc. dove Tuesday toward their ninth loss in 10 sessions after the spacecraft and rocket builder\u2019s latest space-flight launch ended in failure.<\/p>\n

\u201cFollowing liftoff from Launch Complex 1, the rocket successfully completed a first stage burn and stage separation as planned, before an issue was experienced at around T+ 2 minutes and 30 seconds into flight, resulting in the end of the mission,\u201d the California-based company said in a statement.<\/p>\n

\n

The stock
\n RKLB,
\n -7.54%<\/bg-quote>
\n tumbled as much as 17.3% to a four-month low of $4.17 in intraday trading, before paring losses to be down 10.6% in morning trading. It has plunged 30.9% amid a 10-day stretch in which it has declined nine times.<\/p>\n

Rocket Lab said it plans to provide a revised third-quarter revenue outlook \u201cin the coming days,\u201d as its next mission, which was scheduled for before the end of the third quarter, will be postponed.<\/p>\n

The company had previously provided third-quarter revenue guidance of $73 million to $77 million, which surrounds the current FactSet consensus of $75.7 million.<\/p>\n

The failed mission was for U.S.-based provider of synthetic aperture radar (SAR) imagery Capella Space: \u201cWe are deeply sorry to our partners Capella Space for the loss of the mission,\u201d Rocket Lab said.<\/p>\n

The company said it was working closely with the Federal Aviation Administration and other supporting agencies as it starts an investigation into the root causes of the issues.<\/p>\n

\u201cWe will identify the issue swiftly and implement corrective actions and return to the pad shortly,\u201d the company said.<\/p>\n

Rocket Lab noted that its Electron rocket has previously delivered 171 satellites to orbit via 37 successful orbital missions.<\/p>\n

The stock has lost 19.6% over the past three months but has still run up 19.5% year to date. In comparison, the S&P 500 index
\n SPX
\n has ticked up 0.5% in the past three months and advanced 15.4% this year.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Rocket Lab USA Inc. dove Tuesday toward their ninth loss in 10 sessions after the spacecraft and rocket builder\u2019s latest space-flight launch ended in failure. \u201cFollowing liftoff from Launch Complex 1, the rocket successfully completed a first stage burn and stage separation as planned, before an issue was experienced at around T+ 2 […]<\/p>\n","protected":false},"author":1,"featured_media":63151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-63150","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nRocket Lab\u2019s stock dives after latest launch ends in failure | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Rocket Lab USA Inc. dove Tuesday toward their ninth loss in 10 sessions after the spacecraft and rocket 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