Why Is Rocket Lab Stock Gaining Premarket Thursday?

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares are trading higher premarket today. On Wednesday, the company disclosed the addition of a last-minute Electron launch, named ‘Changes In Latitudes, Changes In Attitudes,’ to its manifest.

The commercial mission is set to launch from Rocket Lab Launch Complex 1 on October 19, 2024, for a confidential customer.

This marks the company’s fastest turnaround, achieving the launch in under two months from contract signing.

Rocket Lab’s rapid call-up launch capability, streamlined production of Electron rockets, and responsive launch sites enable on-demand launches within days.

This upcoming mission will be the company’s 12th of 2024, further boosting its record.

The company has doubled its Electron launch rate in the first half of this year compared to 2023, solidifying its role as a key provider of launch services for commercial satellite customers worldwide.

Rocket Lab Founder and CEO, Sir Peter Beck said, “Electron delivers what other rockets and rideshare programs can’t: a dedicated and responsive launch service that is tailored to each customer’s specific needs, allowing them to launch to precisely where they want and when they want on incredibly short notice.”

“This quick turnaround from contract to launch is not only a showcase of Electron’s capability, but also of the relentless and fast-paced execution by the experienced team behind it that continues to deliver trusted and reliable access to space for our customers.”

Last week, the company disclosed that NASA has selected the company to conduct a study on retrieving rock samples from the Martian surface and returning them to Earth.

This mission aims to address key solar system exploration objectives, enhancing the company’s understanding of Mars, potentially determining if life ever existed there, and aiding preparations for future human exploration of the Red Planet.

According to Benzinga Pro, RKLB stock has gained around 150% in the past year. Investors can gain exposure to the stock via Procure Space ETF (NASDAQ:UFO) and SPDR S&P Kensho Final Frontiers ETF (NYSE:ROKT).

Price Action: RKLB shares are up 1.88% at $11.40 premarket at the last check Thursday.

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