Looking back at the judgment of Rocket Lab before SpaceX's launch in mid June, overall it is basically in line with reality. The Q2 performance revenue reached a record high of 234 million US dollars (+62% year-on-year), roughly in line with expectations and slightly exceeding expectations; But the net loss is slightly wider than the market consensus expectation, and the real pressure point is still in Q3 profit guidance (adjusted EBITDA continues to suffer losses, gross profit margin dragged down by product structure), as well as the risk of further narrowing the first flight window of the Neutron rocket and delaying until 2027 This is also a common challenge in the commercial aerospace sector: even the industry leader SPCX is currently in a loss making state, and the complex R&D and validation cycle itself is full of uncertainty, making it difficult to fully deliver the launch schedule as originally planned These factors will inevitably cause disturbances to the stock prices of the sector. If it weren't for the recent short selling and emotional recovery after the first batch of SPCX lifting restrictions, the market attention probably wouldn't have reached RKLB to relay the hype. Overall, for this sector to truly experience comprehensive prosperity, it may need to wait until more than half of the SPCX lifting process or the next wave of hype surrounding SPCX itself resumes. In my opinion, if you like American commercial aviation, instead of focusing on the entire sector, it's better to first turn your attention back to the trend and unlocking rhythm of SPCX