What's Going On With Rocket Lab Shares Today?

Rocket Lab USA, Inc. RKLB shares are trading lower in the premarket session on Wednesday.

The company launched its first Electron mission for 2024, a space-junk-focused mission for Spire Global, Inc. SPIR and NorthStar Earth & Space.

The mission also returned the rocket’s first stage after launch as part of Rocket Lab’s plan to evolve Electron into a reusable rocket. 

Rocket Lab founder and CEO, Peter Beck, says: “The success of today’s mission to deliver Spire & NorthStar to orbit, and the completion of our secondary mission to return Electron to Earth after launch, has been a fantastic start of what is set to be Rocket Lab’s busiest year ever.”

After launch and stage separation, Electron’s booster returned to Earth under a parachute and splashed down in the Pacific Ocean approximately 17 minutes post lift-off.

“We have more missions booked in 2024 than we’ve ever scheduled before,” Beck added.

Earlier this month, the aerospace and defense company bagged a $515 million deal with the Space Development Agency (SDA) to design and build 18 Tranche 2 Transport Layer-Beta Data Transport Satellites (T2TL – Beta).

The SDA procures satellites in two-year “tranches” to build a proliferated LEO constellation to deliver needed space-based capabilities to the joint warfighter. 

Rocket Lab has a backlog of over 40 satellites in development and production. 

Rocket Lab satellite technology made its way into over 1,700 satellite missions globally.

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Price Action: RKLB shares are trading lower by 2.81% to $4.85 premarket on the last check Wednesday.