Rocket Lab, Xero and Air New Zealand lose billions in share value
Three of New Zealand's most widely held stocks have plummeted this year amid global industry pressures and strategic challenges.
Rocket Lab, Xero and Air New Zealand have lost a combined $89.5 billion in market capitalisation from their 12-month highs, with Rocket Lab down 55% since May, Xero down 62% from June 2025, and Air New Zealand down 25% since February. Xero has been caught in the "SaaSpocalypse" affecting software companies since February following AI advancements that threaten traditional accounting software. Rocket Lab faces concerns about delayed rocket development and increased competition from SpaceX's recent IPO, while Air New Zealand is forecasting significant losses due to doubled jet fuel costs and manufacturing delays affecting the broader airline industry. The declines are affecting hundreds of thousands of New Zealand retail investors and KiwiSaver members who hold stakes in these companies.
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Why three of NZ’s highest-profile companies have been hammered by the stock market
Rocket Lab, Xero and Air New Zealand are some of the most widely held stocks among NZ retail investors. They all have strong brands and growing revenue. And they’ve lost a combined $90bn in share value this year. What’s going…