New York, June 12, 2026, 18:55 EDT
- Rocket Lab will enter the Nasdaq-100 before the open on June 22.
- RKLB ended at $102.39, dropping 10.79%. The stock lost ground, though index news raised its profile.
- The next move is the June 22 index effective date. After that come Q2 results and Neutron rocket milestones.
Rocket Lab Corporation’s shares tumbled Friday, despite grabbing a place in the Nasdaq-100. Investors moved on from index buying and started booking profits in space stocks. RKLB finished down 10.79% at $102.39, then edged up to $104.56 after hours, MarketBeat data showed.
Nasdaq is adding Rocket Lab, Astera Labs, CoreWeave, Nebius, and Teradyne to the Nasdaq-100 Index before the open on Monday, June 22, according to the exchange. They’ll replace Charter Communications, Cognizant, Insmed, Verisk Analytics, and Zscaler. The Nasdaq-100 measures 100 of the biggest non-financial companies on the exchange. Nasdaq says products tracking the index hold over $800 billion, which means index funds usually adjust holdings to match the changes.
Rocket Lab called its inclusion a milestone since going public in 2021. “This is a landmark moment for Rocket Lab,” said founder and CEO Sir Peter Beck in the release, saying it shows the company’s shift from “a small company with big ambitions to a global space leader.” Rocket Lab has done more than 80 launches to date and put over 250 satellites into orbit. It’s also working on Neutron, a new medium-class rocket designed for constellation missions. GlobeNewswire
The stock fell, showing the index headline wasn’t enough to offset weak sentiment for space plays. Reuters said U.S. space shares dropped Friday, with traders taking profits after SpaceX’s market debut. Rocket Lab and Planet Labs both lost about 8% in the selloff. “The hype can’t quite live up to expectations,” said Chris Beauchamp, chief market analyst at IG Group, according to Reuters. He said that’s a problem for Rocket Lab, since bulls are betting on future growth more than profits now. Reuters
Bullish investors point to Rocket Lab moving beyond small launches. For the first quarter, the company posted record revenue at $200.3 million, up 63.5% from a year ago. GAAP gross margin hit a record 38.2%, and backlog reached $2.2 billion—backlog is contracted work that hasn’t yet hit revenue but signals future business. Rocket Lab sees Q2 revenue coming in between $225 million and $240 million. Neutron’s debut launch is still on for later this year. SEC
Valuation and execution risk are the big bear arguments. Reuters pointed out Rocket Lab’s market cap stood around $66 billion at the last close, against annual revenue of about $600 million, which means the stock trades at a steep price-to-sales ratio. That ratio compares the company’s total market value with its revenue. Rocket Lab is also still running losses: net loss came in at $45.0 million for Q1. For the second quarter, the company projected an adjusted EBITDA loss in the range of $20 million to $26 million. Adjusted EBITDA excludes interest, taxes, depreciation, amortization and other items. Reuters SEC
RKLB’s next key event is the June 22 Nasdaq-100 inclusion. Index demand and potential selling from the rebalance should be clearer after that. Attention will then shift to Rocket Lab’s Q2 numbers—investors watching for revenue to match guidance, losses to shrink, and backlog to move into real cash work. Neutron’s timeline stays in focus, as any slip or overrun could put the valuation at risk. Nasdaq, Inc.
Rocket Lab doesn’t look like a clear bargain here, despite support from business momentum, a strong backlog, and index inclusion. Analyst sentiment is still mostly positive, with MarketBeat listing a “Moderate Buy” consensus from 21 analysts. But their average 12-month price target is $99.24, just under Rocket Lab’s Friday close at $102.39. That puts the stock pretty much in line with Wall Street’s forecast. So investors have to decide if growth, Neutron progress, and space-systems gains are enough to back up a valuation that doesn’t leave much cushion. MarketBeat
