Rocket Lab shares fall after ‘launch issue’ : Rocket Lab launch ends with anomaly after separation, payload lost
Posted: Wed Sep 20, 2023 5:26 pm
Rocket Lab launch ends with anomaly after separation, payload lost
Watch the space launch video here:
https://www.youtube.com/watch?v=wjwJA0qtN-Q
Rocket Lab shares fall after ‘launch issue’
Aerospace manufacturer postpones next mission
Read more here:
https://www.foxbusiness.com/markets/roc ... unch-issue
Shares of Rocket Lab fell Tuesday after the aerospace company said it experienced an undisclosed issue during its latest launch.
The stock pared some losses and was at about $4.70 per share during midday trading. Rocket Lab now anticipates providing a revised third-quarter revenue guidance.
In its second-quarter earnings report, the company projected launch revenues of around $30 million. Overall, Rocket Lab said it predicted $73million to $77 million, with the majority generated from its space systems division.
Rocket Lab's stock has fallen around 60% since 2021-end, when space investments started drying up. As of last close, its market capitalization stood at $2.44 billion.
Its Electron rocket was carrying satellites for American space tech company Capella Space, which provides radar and Earth observation technology.
"Following lift-off 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," the company said in a statement. "We are deeply sorry to our partners Capella Space for the loss of the mission."
Watch the space launch video here:
https://www.youtube.com/watch?v=wjwJA0qtN-Q
Rocket Lab shares fall after ‘launch issue’
Aerospace manufacturer postpones next mission
Read more here:
https://www.foxbusiness.com/markets/roc ... unch-issue
Shares of Rocket Lab fell Tuesday after the aerospace company said it experienced an undisclosed issue during its latest launch.
The stock pared some losses and was at about $4.70 per share during midday trading. Rocket Lab now anticipates providing a revised third-quarter revenue guidance.
In its second-quarter earnings report, the company projected launch revenues of around $30 million. Overall, Rocket Lab said it predicted $73million to $77 million, with the majority generated from its space systems division.
Rocket Lab's stock has fallen around 60% since 2021-end, when space investments started drying up. As of last close, its market capitalization stood at $2.44 billion.
Its Electron rocket was carrying satellites for American space tech company Capella Space, which provides radar and Earth observation technology.
"Following lift-off 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," the company said in a statement. "We are deeply sorry to our partners Capella Space for the loss of the mission."