Rocket Lab’s 41st Electron rocket launch failed about 2 minutes and 30 seconds after lifting off from New Zealand.
Rocket Lab stock fell in premarket trading after the company suffered its first launch failure in over two years in the early hours of Tuesday morning.
Its uncrewed 41st Electron rocket launch failed about 2 minutes and 30 seconds after lifting off from New Zealand.stock fell in premarket trading after the company suffered its first launch failure in over two years early Tuesday morning. The company confirmed its uncrewed 41st Electron rocket launch – lifting off from New Zealand and carrying the Acadia 2 satellite for San Francisco-based Capella Space – failed about 2 minutes and 30 seconds into the flight.
Shares of Rocket Lab fell as much as 26% in premarket trading from its previous close at $5.04. The stock was up 34% for the year as of Monday's close.The company's 42nd Electron mission was set to launch before the end of the third quarter. But Rocket Lab warned it will be postponed while it resolves the launch failure. As a result, Rocket Lab expects to issue revised third quarter revenue guidance.
, Rocket Lab forecast about $30 million of launch services revenue – the minority of its overall forecast revenue between $73 million and $77 million, as the bulk was expected to come from its space systems unit.
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