What's Going On With Satellite Company Rocket Lab USA Stock Friday?

Rocket Lab USA, Inc RKLB launched its 50th Electron mission, deploying satellites for French Internet-of-Things (IoT) company Kinéis. The stock is trading higher on Friday.

The mission was the first of five dedicated Electron launches for Kinéis, a company backed by private and public investors, including the French government’s space agency CNES (Centre National d’Études Spatiales) and CLS (Collecte Localisation Satellites), an international space-based solutions provider, to improve global IoT connectivity.

The Kinéis constellation aims to enhance global IoT connectivity by enabling internet connection to the Earth’s most remote locations.

Also Read: Rocket Lab Eyeing Semiconductors Expansion – Inks Initial Pact Worth $23.9M For CHIPS Act Funding

The constellation’s design allows for near-real-time data transmission with low bit rates and energy consumption.

Across 50 launches, Rocket Lab has deployed 190 satellites for a diverse range of customers and missions, including NASA missions to the Moon, National Reconnaissance Office and Space Force missions supporting national security and defense, scientific research to combat climate change, and commercial constellations providing vital data and services to millions of people on Earth.

Rocket Lab USA announced a ten-launch deal with Japanese Earth observation company Synspective earlier this week. 

Rocket Lab USA stock lost 19% in the last 12 months. Investors can gain exposure to the stock via SPDR S&P Aerospace & Defense ETF XAR and iShares Russell 2000 ETF IWM.

Price Action: RKLB shares are trading higher by 1.67% to $4.88 premarket at last check Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.