Why Rocket Lab Stock Just Tumbled 8%
Shares of small space rocket company Rocket Lab (NASDAQ: RKLB) slid 8.2% through 10:10 a.m. Tuesday after "missing" on sales and "beating" on earnings (although I use both those terms loosely) last night.
Analysts forecast the manufacturer of Electron rockets would lose $0.11 per share on sales of $95 million in the first quarter of 2024. In fact, the company reported a loss of only $0.09 per share (but still a loss) and sales of only $92.7 million (but still 69% year-over-year growth)!
So, the news was both worse and better than expected. Worse because Rocket Lab only "beat" earnings by losing less money than Wall Street feared, and better because, while its sales weren't as great as anticipated, they were still pretty great.
Source Fool.com
