Rocket Lab's shares hit a lifetime high of roughly $150 in late May and are now down about 61%, meaning a $10,000 investment made at that peak would be worth about $3,900. Second-quarter revenue rose 62% to about $234 million and the order backlog grew 137% to $2.36 billion, but the Neutron rocket launch has been pushed from this year to 2027. The stock now trades at roughly 36 times expected sales, a sharp contraction from its peak valuation multiple. Space stocks without strong AI stories have been punished as growth-stock enthusiasm concentrated on AI, and the article argues Rocket Lab may need both stronger results and renewed market interest in the space sector to regain its previous valuation high.
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