Rocket Lab (RKLB) shares fell sharply in mid-October 2026 after the company delayed the first Neutron medium-lift rocket launch from a Q4 2026 target to 2027, citing manufacturing voids in the forward propellant dome that required process fixes. The stock closed October 15 at $55.25, down 6.64% on the day amid analyst price-target cuts, though buy ratings were largely retained with an average target near $101. Offsetting pressure, the firm reported record Q2 revenue of $234 million and a $2.36 billion backlog, secured its largest Electron commercial contract (20 launches for Synspective), and advanced its $8 billion Iridium acquisition with shareholder approval and equity financing completed. Traders are weighing near-term execution risk on Neutron against sustained launch cadence and space-systems growth into year-end.