Rocket Lab Ends 2024 With 16th Launch, Stock Gains

Rocket Lab USA, Inc. RKLB shares are trading higher premarket on Monday. On Saturday, the company successfully completed its 16th launch of the year, deploying a satellite for Japanese Earth-observation operator Synspective.

This marks the sixth of 16 planned Electron launches for Synspective. Rocket Lab has been Synspective’s exclusive launch provider since their first mission together in December 2020.

The “Owl The Way Up” mission launched from Rocket Lab’s Launch Complex 1 in Mahia, New Zealand, on December 22 at 03:17 NZT, successfully deploying a single StriX satellite into orbit via the Electron launch vehicle.

Rocket Lab founder and CEO Sir Peter Beck stated, “We look forward to continuing to increase our launch cadence in the new year as we strengthen Electron’s position as the leading small rocket globally and also enter the medium launch market with Neutron’s debut.”

Earlier this month, the company had announced “Owl The Way Up” mission, which is the final launch of the year.

Notably, 2024 has been a remarkable year for Rocket Lab, with 16 launches so far, surpassing its previous annual record of 10 missions in 2023.

The company maintained a perfect 100% mission success rate for all 2024 launches. The company has scheduled the next Electron launch for Q1 2025.

Last week, Rocket Lab successfully delivered its second Pioneer spacecraft to Vandenberg Space Force Base and completed production and testing of a third spacecraft for Varda.

Investors can gain exposure to the stock via Procure Space ETF UFO and SPDR S&P Kensho Final Frontiers ETF ROKT.

Price Action: RKLB shares are up 1.61% at $25.27 premarket at the last check on Monday.

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