Overview
- Rocket Lab shares fell as higher Treasury yields and talk of a SpaceX IPO pressured fast-growing stocks.
- The pullback followed a 5.1% surge the prior session that reached a $138.38 intraday high on trading volume about 36% above normal.
- Investors had driven the stock higher after May 7 results showed $200.35 million in revenue, a $2.2 billion backlog, and access to more than $2 billion in liquidity.
- Analysts raised targets after the report, led by Deutsche Bank to $120 with a Buy rating, while the broader view is a Moderate Buy near a $100 average target.
- Management says the first Neutron medium-lift rocket launch remains on track for later this year, which many on Wall Street view as the next key catalyst.