• Rocket Lab USA is trading 4.1% down at $64.58 following Piper Sandler's initiation of coverage with a Neutral rating.
  • The price decline is also driven by ongoing dilution concerns stemming from the planned Iridium Communications acquisition and its associated $3.6 billion in bridge financing.
  • This pre-market move extends a steep decline seen over the past week, exacerbated by a broader risk-off environment and a weaker tech tape.