Rocket Lab extended its slide, trading at $114.7 and down 22.02% over five days after Barron’s reported insider stock sales ahead of a potential SpaceX IPO.
Rocket Lab shares extended their decline, trading at $114.7, down 6.99% in 24 hours and 22.02% over five days, after Barron’s reported that company insiders sold more than $18.41 million of stock ahead of a potential SpaceX IPO. The earlier report said the sales totaled more than 124,000 shares and followed a run-up in Rocket Lab (RKLB) stock that had been fueled by optimism around SpaceX’s valuation. Barron’s said the sellers included general counsel Arjun Kampani, Space Systems Vice President Brad Clevenger, COO Frank Klein, and Vector Capital’s Alex Slusky.