Rocket Lab's Biggest Contract Ever Was Actually Kind of Small
Investors in small rocket company Rocket Lab (NASDAQ: RKLB) had a fantastic December 2023, but January 2024 has been something of a letdown.
Late last year shares of the manufacturer of Electron small space rockets had some fabulous news to report: It snagged its biggest contract win ever when the U.S. Space Force tapped it to build part of the Pentagon's new missile defense constellation called "Proliferated Warfighter Space Architecture." (Yes, "Star Wars" would've been a catchier name, but Ronald Reagan already claimed it.) For $515 million, Rocket Lab will build 18 "transport layer" satellites by 2027, then run them for the government through 2030 or 2033.
Abracadabra, presto-change-o, all of a sudden Rocket Lab had been anointed a "prime" defense contractor for the U.S. Space Force.
Source Fool.com