Rocket Lab's stock climbs after company completes two launches in less than 24 hours

Dow Jones

2024-11-25

MW Rocket Lab's stock climbs after company completes two launches in less than 24 hours

By James Rogers

Space-launch company Rocket Lab successfully completed the two launches in different hemispheres

Shares of Rocket Lab USA Inc. are up 7.2% in premarket trades, boosted by successful launches in two different hemispheres in less than 24 hours.

The company said that the launches set a new Rocket Lab $(RKLB)$ record for the fastest launch turnaround. At 10:55 p.m. Eastern, Rocket Lab's "Ice AIS Baby" mission successfully launched five satellites from the company's Launch Complex 1 in Mahia, New Zealand. The launch of the satellites from French constellation operator Kinéis marked Rocket Lab's 56th Electron rocket mission, the Long Beach, Calif.-based space specialist said in a statement.

Related: Rocket Lab stock soars amid strong momentum for the space-launch company's Electron rocket

Some 21 hours and 55 minutes earlier, Rocket Lab completed a successful launch from Launch Complex 2 in Virginia.

Rocket Lab highlighted strong demand for its Electron rocket during its third-quarter results earlier this month. The company is planning the first test launch of its new Neutron rocket in 2025, which will be followed by three launches in 2026.

Related: Rocket Lab stock climbs more than 6% after KeyBanc raises price target

Shares of Rocket Lab are up 320.6% in 2024, outpacing the S&P 500 index's SPX gain of 25.2%.

-James Rogers

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

November 25, 2024 07:42 ET (12:42 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The company is planning the first test launch of its new Neutron rocket in 2025, which will be followed by three launches in 2026. \n</p>\n<p>\n     Related: Rocket Lab stock climbs more than 6% after KeyBanc raises price target \n</p>\n<p>\n     Shares of Rocket Lab are up 320.6% in 2024, outpacing the S&amp;P 500 index's SPX gain of 25.2%. \n</p>\n<p>\n     -James Rogers \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. 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At 10:55 p.m. Eastern, Rocket Lab's \"Ice AIS Baby\" mission successfully launched five satellites from the company's Launch Complex 1 in Mahia, New Zealand. The launch of the satellites from French constellation operator Kinéis marked Rocket Lab's 56th Electron rocket mission, the Long Beach, Calif.-based space specialist said in a statement. \n\n\n     Related: Rocket Lab stock soars amid strong momentum for the space-launch company's Electron rocket \n\n\n     Some 21 hours and 55 minutes earlier, Rocket Lab completed a successful launch from Launch Complex 2 in Virginia. \n\n\n     Rocket Lab highlighted strong demand for its Electron rocket during its third-quarter results earlier this month. 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