Why Rocket Lab Shares Are Gaining Today

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

The company said it has concluded the second of two Electron launches for NASA’s PREFIRE (Polar Radiant Energy in the Far-InfraRed Experiment) climate change-focused mission, completing a turnaround of two launches within eleven days.

‘PREFIRE and Ice’ lifted from Rocket Lab Launch Complex 1, deploying the second of two satellites for the PREFIRE mission to a 525km orbit.

The company said the first mission, ‘Ready, Aim, PREFIRE,’ was successfully launched on May 25, days earlier.

“Quickly deploying both satellites to orbit within eleven days of each other demonstrates our team’s skill and experience, allowing NASA to maximize PREFIRE’s time in space collecting important climate change data,” Rocket Lab founder and CEO Peter Beck said. 

After deploying both satellites into orbit, they will traverse the Arctic and Antarctic regions to investigate the heat emitted from Earth’s polar areas.

The data gathered by the PREFIRE mission on heat loss aims to enhance climate and ice-loss models, thereby improving our ability to forecast changes in Earth’s ice, sea levels, and weather patterns. The mission is projected to continue for a duration of 10 months.

Electron has so far transported 185 satellites into space through its various launches.

Today’s mission marks Rocket Lab’s 49th Electron launch and the seventh mission of 2024.

Electron continues to hold its position as the second most frequently launched rocket in the United States each year and remains among the most frequently launched rockets worldwide, Rocket Lab said.

Information regarding Rocket Lab’s 50th Electron launch will be disclosed in the forthcoming days.

Price Action: RKLB shares are trading higher by 1.17% to $4.33 premarket at last check Wednesday.

Read Next: United Airlines Hits Brakes On Hiring This Year Due To Boeing Woes: Report

Photo via Shutterstock