Rocket Lab USA, Inc. (RKLB) saw its stock price plummet by 5.01% during intraday trading on Wednesday, reflecting significant selling pressure in the session.

The decline follows recent reports highlighting that the stock remains expensive even after a near-50% sell-off from its recent highs. This valuation concern has contributed to ongoing investor apprehension, leading to the sharp drop in share price.

As the market continues to assess Rocket Lab's business prospects, the perception of overvaluation appears to be a key driver behind the current downward movement.