Rocket Lab Stock Plunges On Big Success. (Shrug.) -- Barrons.com
The stock market's reaction on any given day to a single event never tells the whole story.Take space launch and technology provider Rocket Lab, sometimes described as a mini-SpaceX. Shares plunged early Monday after the company successfully launched a rocket.Rocket Lab stock was down 8.1% at $56.50, while the S&P 500 and Dow Jones Industrial Average were down 0.2% and 0.1%, respectively.The problem for Rocket Lab was, paradoxically, a successful space launch. The company said Sunday that it had completed its first mission for the Japan Aerospace Exploration Agency. The "RAISE And Shine" mission lifted off from Rocket Lab's Launch Complex 1 in New Zealand.The launch marked Rocket Lab's 19th of the year, extending its annual record.Why shares drop on seemingly good news is often explained by the adage "buy the rumor, sell the news." The stock market is forward-looking, so successful space launches are reflected in Rocket Lab stock already.Starting points matter for stocks, too. Rocket