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Stock impact report

Rocket Lab Wins Space Force Contract -- at Twice the Usual Price [Yahoo! Finance]

Rocket Lab USA, Inc. (RKLB) 
Company Research Source: Yahoo! Finance
Since setting up shop in 2017, the tiny rocket maker had launched a total of just 10 rockets -- fewer than three per year -- out of its Launch Complex 1 (LC-1) in New Zealand. LC-1 was hardly working at full capacity. And yet, Rocket Lab had high hopes to grow its business, launch more frequently, and one day perhaps even challenge SpaceX for dominance in space launch. First, however, Rocket Lab really needed to get closer to one of its most lucrative customers: the U.S. government. And so Rocket Lab decided in 2019 to invest years of work and millions of dollars to develop a Launch Complex 2 (LC-2) in the United States near the NASA facility on Wallops Island in Virginia. A bet that paid off -- and keeps paying off The first indication that this bet is paying off for Rocket Lab came in December 2023, when the U.S. Space Force named Rocket Lab one of its "prime contractors" and awarded the company a $515 million contract to build satellites for a new missile defense system. Fur Show less Read more
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