What's Going On With Rocket Lab Stock Tuesday?

Rocket Lab USA, Inc RKLB stock is trading higher Tuesday as the aerospace and defense company on Monday 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.

The company also announced the launch window for its first mission of 2024, named 'Four of a Kind,' scheduled for by January 18.

The mission will launch from Rocket Lab Launch Complex 1 in New Zealand to deploy four Space Situational Awareness (SSA) satellites for NorthStar Earth & Space, built and operated by Spire Global, Inc SPIR.

These satellites will be the first to monitor all near-Earth orbits simultaneously, enhancing SSA services globally with precise information for space object detection and collision avoidance.

Additionally, as a secondary objective, Rocket Lab will attempt to recover Electron's first stage by splashing it down in the Pacific Ocean and retrieving it for transportation and analysis, moving closer to making Electron a reusable rocket. This launch will not include any pre-flown engines. 

Rocket Lab CEO Peter Beck emphasized the progress towards reusability and the significance of partnering with Spire Global, highlighting the mission as a milestone in their collaboration. 

The 'Four of a Kind' mission marks Rocket Lab's first launch in a fully booked 2024 manifest and will be the company's 43rd Electron mission overall.

Rocket Lab stock gained 32% last year versus the broader index SPDR Select Sector Fund - Industrial XLI at 12%.

Price Action: RKLB shares are trading higher by 0.27% to $5.57 on the last check Tuesday.

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