Takeaways
- Rocket Lab's latest space mission failed two and a half minutes after launch and shares fell.
- CEO Peter Beck said the company would find the cause of the problem, fix it and resume flights . .
- Rocket Lab said its next planned launch will be delayed and will provide revised revenue guidance for the current quarter.
Shares of Rocket Lab USA (RKLB) plunged and were down 8% as of 12:45 p.m. Eastern after the satellite delivery company's latest rocket malfunctioned and the company said the incident would delay its next launch.
Rocket Lab reported that its Electron rocket had failed following a successful liftoff from its New Zealand launch pad and a burnout and separation of the first stages. A problem that occurred about two and a half minutes into the flight resulted in “the end of the mission,” he said. the company said.
Rocket Lab noted that #39;Electron had previously delivered 171 satellites on 37 orbital missions.
CEO Peter Beck apologized to Capella Space, which lost” tweets its radar imaging satellite, “the team is already working on the root cause. We'll find it, fix it, and get back on the pad quickly.
Rocket Lab said that it& #39;was the next The flight, currently scheduled for the end of this quarter, “will be postponed until we implement corrective measures.” The company added that it plans to provide revised revenue guidance for the third quarter “in the coming days.”
Despite Tuesday's decline, Rocket Lab shares remained higher for 2023.
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Source: investopedia.com
