Rocket Lab said the first launch of its Neutron rocket is now expected in 2027, after manufacturing found voids in the carbon composite layers of the propellant dome. CEO Peter Beck said the problem is solved and would reduce margin but not necessarily cause an in-flight failure, while cryogenic and hydrostatic testing will not finish until Q1 2027, later than the earlier target of delivering Neutron to the launch pad before the end of 2026. Rocket Lab shares fell 11% to $52.85 in morning trading, after an 8% drop the previous day to $59.18. SpaceX and AST SpaceMobile each fell about 2%, the UFO ETF slid 2% and the SPY fell 0.3%, which the article reads as a company-specific repricing. Backlog reached $2.36 billion at the end of Q2 2026, up 137% year over year.
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