Rocket Lab (NASDAQ:RKLB) has entered a local bear market, mirroring the performance of other space companies that have declined following the recent SpaceX (NASDAQ:SPCX) IPO.
RKLB is down 28% from its all-time high, erasing $24 billion in market value as its market capitalization falls to $62 billion.
Analysts are Optimistic About Rocket Lab Stock Rocket Lab stock has retreated because of the ongoing profit-taking following the SpaceX IPO.
At its peak on May 27, it was up by 3,450% from its lowest level in August 24.
The ongoing retreat has coincided with that of other top space companies like Intuitive Machines, Planet Lab, and RedWire.
