Rocket Lab Secures $90M US Space Force Contract, Completes 88th Launch
RKLB has more than doubled off its 52-week low of $23.92.
Summary
Rocket Lab has won a $90 million contract from the U.S. Space Force to build and operate two defense satellites. This adds to the company's growing backlog and strengthens its position in the defense sector. Additionally, Rocket Lab successfully completed its 88th launch, deploying Synspective's ninth radar-imaging satellite. This news follows a period of strong financial results and significant contract wins, including a $190 million contract in March and another large launch contract in early May. Shares reacted positively, rising up to 10% following the mission.
At the time of this announcement, RKLB was trading at $134.15 on NASDAQ in the Technology sector, with a market capitalization of approximately $78.6B. The 52-week trading range was $23.92 to $139.76. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.