Rocket Lab Just Signed the Biggest Commercial Electron Deal in Its History. Its Launch Backlog Now Tops 100.
One customer just booked Electron rides through 2031. Does this make the stock a buy?
Overview
Rocket Lab (NASDAQ:RKLB) signed a deal for 20 new Electron launches with Japanese radar-satellite operator Synspective late on Sept. 30. The company called it the largest commercial launch contract for Electron in its history. It also boosts Synspective's total to 47 Electron missions, the most of any Rocket Lab launch customer.
And the order took the company's launch backlog beyond 100 missions, up from over 70 contracted missions in early May and 90-plus in August.
Details
The growth stock has risen about 6% since the news, to roughly $74 as I write. Two days before the deal, SpaceX's huge Starship rocket first reached orbit -- another reason some investors worry about Rocket Lab's launch business.
Source
Originally published at www.fool.com.