Key Takeaways
- Rocket Lab shares climbed Friday after the U.S. Space Force selected the space rocket company to join its $5.6 billion National Security Space Launch program.
- Under the program, Rocket Lab and four other launch providers can compete for missions, including Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin.
- Rocket Lab’s stock has more than quadrupled in value over the last 12 months.
Rocket Lab USA (RKLB) shares climbed Friday after the U.S. Space Force selected the company to join its $5.6 billion National Security Space Launch (NSSL) program.
Under the program, Rocket Lab can compete for missions with four other providers including Elon Musk‘s SpaceX, Jeff Bezos’ Blue Origin, Stoke Space Technologies, and United Launch Alliance.
To start, Rocket Lab said it received a $5 million task order to perform a capabilities assessment “that demonstrates the Company’s tailored approach to mission assurance for launches awarded through the NSSL program.”
Rocket Lab said it will use its Neutron launch vehicle for the program. Founder and CEO Peter Beck said the Neutron rocket is scheduled to make its first launch later this year, and that Rocket Lab can’t wait “to showcase Neutron as the important platform it will become for the Department of Defense.”
Rocket Lab shares spiked over 7% in early trading Friday, before paring much of their early gains. The stock has more than quadrupled in value over the last 12 months.
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