RKLB Stock Slips Overnight Despite Electron’s Push Toward 100th Launch — Retail Still Frets Over Neutron Delays

• A 20-launch Synspective deal helped push Rocket Lab’s launch backlog above 100 missions.
• Neutron’s first-stage tank is targeted for pad delivery in Q4, but Rocket Lab said the end-of-year launch window is narrowing.
• Rocket Lab reported record Q2 revenue of $234 million and a $2.36 billion backlog, while free cash flow was negative $110 million.

Shares of Rocket Lab (RKLB) slipped more than 1% overnight late Monday despite a new Electron launch update as retail traders continued to focus on delays to the company’s Neutron rocket.

RKLB stock closed Monday at $65.71, down 3.67%, after falling 8% last week, marking its worst weekly performance since late August. 

RKLB’s Next 3 Electron Flights Build Toward Mission No.100

In a post on X, Rocket Lab said Electron remains the world’s most frequently launched dedicated small-lift rocket and announced its next three missions as the company builds toward its 100th launch. 

The next mission, ‘We’re Not Hawking Around,’ is scheduled no earlier than Oct.21 from Launch Complex 1 in New Zealand. It will carry three HawkEye 360 satellites to low Earth orbit. Two missions for Japanese satellite operator iQPS are scheduled no earlier than Nov. 4 and Nov. 10: ‘The Sea God Surveys’ and ‘The Mountain God Rises.’

The update comes after Electron’s 97th successful mission late last month, when it deployed a Synspective synthetic aperture radar satellite. Electron had launched 18 times this year through the mission. The company also announced a multi-year agreement last month to launch 20 Synspective satellites between 2028 and 2031, its largest commercial Electron contract to date. The deal brought Synspective’s total contracted launches with Rocket Lab to 47 and helped push Rocket Lab’s launch backlog above 100 missions.

Neutron Delays In Focus For RKLB Investors

Electron’s launch cadence contrasts with the uncertainty around Neutron, Rocket Lab’s medium-lift rocket. In August, the company said production of Neutron’s first-stage tank remained aligned with a fourth-quarter target for delivery to the launch pad. However, the company also warned that the window for an end-of-year launch was narrowing as qualification and other critical tests remained ahead.

The development program has faced earlier setbacks, including a Stage 1 tank rupture during a hydrostatic pressure test in January. Rocket Lab said the next tank was already in production and that development would continue while its team assessed the test results.

Rocket Lab reported record second quarter (Q2) revenue of $234 million, up 62% from a year ago, and a record backlog of $2.36 billion. It forecast third-quarter revenue of $250 million to $265 million. Free cash flow was about negative $110 million in Q2 as the company invested in Neutron, infrastructure, and research and development.

How Do Retail Traders Feel About RKLB?

On Stocktwits, retail sentiment for RKLB slipped to ‘bearish’ from ‘neutral’ levels a day ago amid a 1,470% surge in 24-hour message volumes, as per platform data. 

One user noted that Neutron’s first flight remains delayed, adding that dilution and persistent losses challenge the company, while its share price already bakes in optimistic expectations for Neutron and Iridium.

Another user expressed frustration regarding the price action: “Another day, another dollar… except Rocket Lab keeps taking the dollar instead of making it!” A separate user warned that $58 “is a real possibility”, while another complained that it was “just another down day”.

On the bullish side, one user called RKLB “the most undervalued stock in the market”, while others said they were adding shares on dips.

RKLB stock has declined 6% year-to-date.

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