Why Is Rocket Lab Stock Trading Lower Wednesday?

Rocket Lab USA Inc (NASDAQ: RKLB) shares are trading lower, down 3.68% to $75.70 in premarket action, following a volatile session where the stock rose 10% before sliding. The company filed for a potential common stock offering of up to $1 billion to strengthen its balance sheet, despite having $828.66 million in cash reserves as of December 31. Over the past year, Rocket Lab's shares have increased by 337.10%, and they are currently trading 6.6% above their 20-day simple moving average.