Rocket Lab Just Postponed Its Neutron Launch. Again.

RKLB dropped 25% after Rocket Lab pushed the inaugural Neutron launch from the end of 2026 into 2027, the second delay for the reusable rocket.

The culprit is manufacturing. Rocket Lab found air pockets in the carbon composite domes for Neutron's first-stage propellant tanks, defects that could compromise structural integrity. Fixing the domes, rather than flying around the flaw, is what drives the new timeline.

The analyst behind the source piece calls the delay prudent. The argument rests on two points. First, Rocket Lab was planning only limited Neutron launches initially, so the slip should not significantly dent near-term revenue. Second, the company is still expected to reach profitability next year regardless of the delay.

Interpretation: the 25% drop prices in more than a few lost months. It reflects a second schedule miss on the company's biggest development program, and a repeat slip is what the market is punishing. The analyst's view is that the fundamental revenue path is largely intact, which sets up a gap between sentiment and near-term financials.