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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.