Why did SpaceX's biggest competitor suddenly drop 25%?

Rocket Lab postponed the maiden launch of its Neutron rocket to 2027 due to manufacturing issues with fuel tanks. In response, the company's stock fell 25% last week.

Space company Rocket Lab announced another delay in the maiden launch of its reusable Neutron rocket, with the new target set for 2027. The main reason for the delay is a manufacturing problem discovered in the rocket's fuel tanks, where air pockets were found between the carbon fiber layers forming the domes. The company decided not to take risks and to postpone the launch until a new manufacturing process is developed. In response to the announcement, the company's stock fell 25% last week, reflecting investor disappointment over the delay. CEO Peter Beck stated, "We have solved the problem," but admitted that the 2027 target is "ambitious," hinting at the possibility of further delays. The article notes that the delay is not expected to significantly impact the company's revenue in the near term.