Rocket Lab (NASDAQ:RKLB) stock has reversed in the past few weeks, moving from a record high of $150 to the current $63.9, with its valuation falling from $82.9 billion to $38.2 billion.
Rocket Lab Stock Dropped as Space Shares Plunged This retreat has coincided with the ongoing sell-off in SpaceX (NASDAQ:SPCX), which has fallen from a record high of $225 to a record low of $110.
The closely watched Procure Space ETF (NASDAQ:UFO) has plunged 37% from its high for the year.
Rocket Lab stock continued its sell-off after announcing a $8 billion deal to buy Iridium, a company that provides worldwide voice, data, and navigation services.
Iridium counts the US government and companies like Vodafone and Garmin as clients.
