Rocket Lab (NASDAQ: RKLB), a developer of orbital rockets, shed over a fifth of its value in the week ending on Oct. 16, marking its worst weekly drop since its public debut in 2021. That decline was mainly caused by its decision to delay the first launch of its larger Neutron rocket, which was aimed at competing against SpaceX's (NASDAQ: SPCX) Falcon 9, to 2027. The Neutron's arrival would have diversified Rocket Lab's launch services segment beyond its Electron rockets, which carry much smaller payloads, and HASTE testbed launch vehicles. Another challenge that exacerbated the sell-off was Ligado Networks' request for the FCC to probe Rocket Lab's planned takeover of the satellite network operator Iridium (NASDAQ: IRDM). Ligado claims the acquisition would be anti-competitive, since Iridium previously tried to block its partnership with AST SpaceMobile (NASDAQ: ASTS). Image source: Getty Images.
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