Rocket Lab stock hit an all-time high, closing above $54 a share. The company announced plans to raise up to $750 million through stock sales. Rocket Lab stock is now down 9.2% due to the news of the cash raise. The company is not obligated to sell any shares, but it is burning nearly $200 million a year. Rocket Lab has lined up big banks to help with the share sales. The company is securing funds for its projects, including completing the Neutron rocket and pursuing other space initiatives. Rocket Lab wants to sell shares for more money than ever before.

Read more at Yahoo Finance: Why Rocket Lab Stock Just Crashed