Why Is Rocket Lab USA Stock Surging Today?

Shares of aerospace manufacturer and launch service provider Rocket Lab USA, Inc. RKLB are trading higher on Monday.

Over the weekend, the company successfully completed its 59th Electron mission. The mission saw the deployment of five satellites into Low Earth Orbit (LEO) for Kinéis, a French Internet-of-Things operator.

This launch is part of a five-mission contract between Rocket Lab and Kinéis, aimed at establishing the full Kinéis IoT constellation.

The “IOT 4 You and Me” mission launch occurred at 9:43 am NZDT (20:43 UTC) on February 9 from Rocket Lab’s Launch Complex 1 in Mahia, New Zealand.

Also Read: Rivian Commercial Van Now Available For Fleets Nationwide In US

“That’s four launches done and one still to go for Kinéis, then we’ll have deployed their entire constellation in less than a year. It’s not uncommon for constellation operators to wait longer than that for their first launch, let alone have a full constellation deployed and operating,” said Rocket Lab founder and CEO Sir Peter Beck.

The date for the fifth and final launch scheduled to complete the deployment of the IoT constellation will be provided soon.

The five satellites were deployed into a 647 km low Earth orbit, joining the expanding Kinéis constellation, which will enable IoT devices to connect in remote regions across the globe.

This constellation will support essential functions such as forest fire detection, water management, infrastructure monitoring, and logistics tracking, ensuring connectivity in even the most remote areas of the planet.

Interest in companies like Rocket Lab has gained momentum after President Donald Trump’s inaugural speech, where he promised to focus on space exploration and committed to sending astronauts to Mars.

According to Benzinga Pro, RKLB stock has gained over 530% in the past year.

Price Action: RKLB shares are trading higher by 8.41% at $29.71 at the last check Monday.

Read Next:

• Nokia Taps Intel’s AI Executive As New CEO – Details