On June 23, Rocket Lab USA declined 3.07% overnight, trading at $97.45/share, with turnover of $13.28 million. The decline reflects continued sector-wide pressure stemming from the capital siphoning effect triggered by SpaceX's recent IPO.

SpaceX surpassed $2 trillion in market capitalization on its first day of trading, drawing massive capital inflows that have created systematic selling pressure on mid- and small-cap space stocks. Peers including AST SpaceMobile and Intuitive Machines have also experienced notable pullbacks in recent sessions. Despite positive company-specific catalysts — Rocket Lab was recently added to the Nasdaq 100 index, and KeyBanc upgraded the stock to Overweight with a $135 price target — sector rotation dynamics have continued to weigh on shares. KeyBanc characterized the pullback as short-term technical pressure rather than fundamental deterioration, citing strong order backlog of $2.2 billion as of Q1 (up 108% year-over-year) and revenue growth of 63.5% in the most recent quarter.

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