Shares of space launch company Rocket Lab USA, Inc. (RKLB) soared as much as 14.02% intraday on Tuesday, following President Donald Trump's inauguration speech where he pledged to pursue aggressive American space exploration efforts, including planting the U.S. flag on Mars.
Trump's bullish comments on championing space exploration and sending astronauts to Mars sparked a wave of enthusiasm and optimism in the space industry. Investors piled into space-related stocks like RKLB, betting that the new administration's prioritization of Mars missions and deep space travel could bring increased opportunities and potential contracts for companies operating in the commercial space sector.
Rocket Lab in particular saw its shares skyrocket in pre-market and early trading as traders anticipated it could be a major beneficiary of greater government investment and focus on space under Trump. As a leading provider of launch services, RKLB is well-positioned to potentially secure lucrative contracts for supporting future NASA programs and missions to Mars.
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