Peter Beck's Rocket Lab Fell 30% in a Month While Revenue Grew 63%

The article says Rocket Lab shares fell more than 30% at one point over the past month and are still down about 13%, even after a rebound. The decline contrasts with strong underlying business momentum: first-quarter revenue rose 63% year over year to a record $200 million, helped by launch services and space-systems demand. The company also reported a narrower-than-guided adjusted operating loss and completed its Mynaric acquisition, which expands its European footprint. Investors appear focused on weak free cash flow, which was negative $77 million and worse than expected. The piece argues the long-term thesis remains intact because Rocket Lab’s vertically integrated model could improve margins and profitability over time, making the recent sell-off look like volatility rather than a deterioration in fundamentals.