© Reuters. Rocket Lab (RKLB) shares sink as the company reports loss of its 41st mission, postpones further launches
Shares of Rocket Lab USA, Inc. (NASDAQ:) are trading over 15% lower early in pre-market on Tuesday, after the company reported an issue during the launch of its 41st mission launch, leading to “the loss of the mission,” and announced it is postponing further launches.
According to the company’s statement “the rocket successfully completed a first stage burn and stage separation as planned,” but “an issue was experienced at around T+ 2 minutes and 30 seconds into flight, resulting in the end of the mission.”
Rocket Lab said it’s cooperating closely with the FAA and supporting agencies to investigate the root cause of the failure, noting they will “identify the issue swiftly and implement corrective actions and return to the pad shortly.”
“Our next mission, currently scheduled before the end of the Q3, will be postponed while we implement corrective actions,” the company added, saying it expects to provide revised Q3 guidance over the next few days.
RKLB shares are currently trading around $4.20, over 15% lower than the prior closing price of $5.04.