Why Rocket Lab Popped, Then Dropped Today
Rocket Lab is buying and selling today. So are its investors.
Rocket Lab (NASDAQ: RKLB) stock took investors on a wild ride on Wednesday. Spiking more than 11% in pre-market trading, and still up nearly 9% as the market opened, shares of the space stock have fallen steadily in the hours since. As of 11:35 a.m. ET, Rocket Lab stock remains only barely in the green -- up 0.5%.
But what made Rocket Lab stock rise in the first place, and why has it given up most of its gains?
We'll begin with the good news: First, Rocket Lab is buying its German subcontractor Mynaric AG, a maker of laser communication devices for long-distance data transmission in space, in the air, and on land.
