What's Going On With Rocket Lab Stock on Friday?

Rocket Lab USA, Inc. RKLB shares are trading higher on Friday.

The firm has announced the upcoming “Owl The Way Up” mission, set to launch on December 18th, 2024, from its Launch Complex 1 in Mahia, New Zealand.

This mission will deploy the latest satellite in Synspective’s growing Earth observation constellation.

The StriX satellite, designed to monitor millimetre-level changes to Earth’s surface using synthetic aperture radar (SAR), will be the sixth of 16 launches planned on Rocket Lab’s Electron rocket for the Japanese Earth observation company.

The partnership between Rocket Lab and Synspective began in 2020 and has flourished, with Rocket Lab serving as Synspective’s exclusive launch provider.

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By flying dedicated missions instead of ridesharing, Rocket Lab allows Synspective to have greater control over their launch schedule and mission parameters, offering a unique level of flexibility for small satellite operators.

Rocket Lab’s founder and CEO, Sir Peter Beck, highlighted the strong relationship with Synspective, emphasizing their shared vision of enabling persistent monitoring of the planet.

“We’re looking forward to placing another StriX satellite in orbit and supporting Synspective’s vision to enable persistent monitoring of our planet to support disaster relief, agricultural development, maritime domain awareness and much more,” Beck said.

2024 has been a remarkable year for Rocket Lab, with 14 launches so far, surpassing its previous annual record of 10 missions in 2023.

According to Benzinga Pro, RKLB stock has gained over 428% in the past year. Investors can gain exposure to the stock via SPDR S&P Kensho Final Frontiers ETF ROKT.

Price Action: RKLB shares are trading higher by 3.34% to $24.72 at the last check on Friday.

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