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Markets · Investing · Business
Finance
Why Rocket Lab Stock Just Jumped
Rocket Lab notched another successful launch, but the real fuel behind Friday's stock surge was a $397 million Space Force contract.
Rocket Lab Corporation(NASDAQ: RKLB) jumped 9.5% on Friday. The S&P 500 and the Nasdaq Composite were up 0.6% and 1.2%, respectively.
Shares of the rocket and satellite manufacturer were lifted by another successful Electron mission, a day after the company announced a new $397 million U.S. Space Force award.
Details
Rocket Lab launched an Electron rocket -- its current workhorse -- from its Complex 1 site in New Zealand at 9:18 p.m. local time Thursday, carrying a single satellite for a Japanese operator of Earth-imaging satellites. The payload was placed in orbit to join the customer's existing imaging constellation.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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