Why Rocket Lab Stock Plummeted This Week

Rocket Lab stock dropped 25.1% last week, far exceeding the S&P 500's 2.6% decline and the Nasdaq's 4.7% fall. Investors reacted to Blue Origin's rocket explosion on May 28 and SpaceX lowering its IPO range from roughly $2 trillion to $1.77 trillion. The Bureau of Labor Statistics' May jobs report showing 172,000 jobs added versus 80,000 forecast also pressured shares. Despite the sell-off, Rocket Lab stock remains up roughly 58% year to date.