Shares of Rocket Lab USA Inc. RKLB dove 18.1% to lead all premarket decliners trading on major U.S. exchanges, after the spacecraft and rocket builder’s latest space flight launch failed. The stock, which has plunged 22.8% amid a nine-day stretch in which it has declined eight times, was on track to open at the lowest price seen during regular-session hours since May 15. The company said late Thursday that following lift off, the rocket successfully completed a first-stage burn and stage separation, “before and issue was experienced at around T+ 2 minutes and 30 seconds into flight, resulting in the end of the mission.” The mission was for U.S.-based provider of synthetic aperture radar (SAR) imagery Capella Space. “We are deeply sorry to our partners Capella Space for the loss of the mission,” Rocket Lab said in a statement. The stock has lost 10.0% over the past three months through Monday but has still run up 33.7% year to date. In comparison, the S&P 500 SPX has gained 1.0% the past three months and advanced 16.0% this year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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