Shares of Rocket Lab USA, Inc. (RKLB) soared in pre-market trading on October 17, 2024, rising 5.00% as the aerospace company received a boost from multiple positive developments.
A significant catalyst for the stock's rally was Rocket Lab's announcement that it has been selected by NASA to complete a study for a mission to retrieve rock samples from Mars and return them to Earth. This potential mission concept could be significantly more cost-effective and faster than NASA's current projected timeline, fueling optimism among investors about Rocket Lab's prospects in the rapidly growing space industry.
Additionally, analysts at KeyBanc expressed confidence in Rocket Lab's ability to scale its business and position itself as an industry leader in launch services and satellite manufacturing. The firm raised its price target on RKLB stock, further boosting investor enthusiasm for the company's growth potential.
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