Rocket Lab USA, Inc. (RKLB) saw its stock price plummet by 5.09% during intraday trading on Tuesday. The sharp decline followed the announcement of a significant insider selling proposal.
The drop was triggered by news that ADAM C SPICE, an officer of Rocket Lab, proposed to sell 1,365,665 shares of common stock, valued at approximately $103.78 million. Such large-scale insider selling often raises concerns among investors about the company's future prospects, leading to increased selling pressure.
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