Crowder Securities Limited - US Government Satellite Launch Contract Lifts Rocket Lab Shares

Rocket Lab USA (RKLB) stock soared after the satellite launch business said it had acquired a $515 million federal contract.
WAN CHAI, Hong Kong - Jan. 11, 2024 - PRLog -- According to a document submitted to the regulatory agency, the agreement requires Rocket Lab to "design, manufacture, deliver, and operate 18 space vehicles." A basic award of $489 million will be given to it, in addition to incentives of up to $26 million.

According to Rocket Lab, the development process will start right now, and the delivery of the vehicle is projected to take place in 2027. The satellites would continue to function until the year 2030, with the prospect of extending their lifespan until the year 2033.

Peter Beck, a rocket engineer and CEO, created Rocket Lab in 2006. Last Thursday, the business successfully launched its 42nd Electron rocket and installed a satellite for the Institute for Q-shu Pioneers of Space, a Japan-based Earth photography organization. It was the company's tenth Electron flight of the year.

With current gains, Rocket Lab USA shares are up more than 25% this year.

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