What's Going On With Rocket Lab USA Stock?

Rocket Lab USA, Inc. RKLB shares are moving Wednesday. The stock appears to be moving on continued downward momentum from the last five days.

What To Know:

Rocket Lab shares are down 5%  Wednesday and down more than 9% over the last five sessions.

Rocket Lab USA released its second-quarter financial reports with quarterly losses of 10 cents per share, missing the analyst consensus estimate of a loss of 9 cents per share. The company also reported second-quarter sales of $62.05 million, beating the consensus estimate of $61.79 million and representing an 11.85% increase over sales from the same period last year.

On Tuesday, Rocket Lab announced that BlackSky Technology, Inc. BKSY signed a purchase agreement for a block of five launches that will increase capacity and introduce new capabilities for BlackSky. The company also announced it has signed a new launch services agreement with a confidential customer for a HASTE (Hypersonic Accelerator Suborbital Test Electron) mission from NASA's Wallops Flight Facility in 2024.

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RKLB Price Action: According to Benzinga Pro, shares of RKLB are trading more than 10% lower at $1.65 at the time of publication.

Image: Courtesy of Rocket Lab USA, Inc.